Aster Token Price Dips Amid MrBeast's Massive Investment

Analyzing the Aster Token Price Action Amid MrBeast’s Investment

The Aster token price has taken a dip despite a massive investment from popular YouTube influencer MrBeast. He recently purchased 167,436 coins, worth about $320k, adding to his previous purchases.

Significantly, the YouTuber has been sparking controversy over the past few days with his huge ASTER token purchases. Building on his previous buys, the latest purchase brings his total holdings to a value of $1.28 million.

MrBeast Continues to Buy Aster Token

On-chain analytics platform Lookonchain, in its latest X post, shared insights on YouTube fame MrBeast’s massive Aster token investment. The YouTuber has been continuously buying the cryptocurrency over the past few days despite allegations of insider trading. His latest purchase includes 167,436 coins, using 320,587 USDT.

As pointed out by Lookonchain, the recent accumulation of thousands of crypto has further bolstered the influencer’s total holdings, which are now at 705,821, valued at $1.28 million. In a preceding post on Friday, Lookonchain revealed that MrBeast had bought 538,384 coins, valued at $990K, $1.87, below the all-time peak for ASTER at $2.31, within three days.

Notably, his substantial investment has sparked debate, particularly in light of allegations of insider trading. While his official account hasn’t endorsed the token or shared plans of his move, the community remains ambiguous about his intentions. It is notwerotthy that the move follows James Wynn's 3x leveraged long position on the crypto.

Interestingly, MrBeast initially claimed unfamiliarity with the altcoin before taking a derivative position, later shifting to spot buying. Adding more fuel to the fire, he moved these cryptos to other wallets like "WuTangClan,” without showcasing any intention to sell them. This accumulation suggests MrBeast's confidence in ASTER's future prospects, given his apparent decision to hold onto his tokens.

ASTER Token Plummets

Despite this strategic accumulation of MrBeast, the cryptocurrency plummeted, marking a notable dip of 5% in hours. From $1.92, the altcoin plunged to $1.80 recently, sparking concerns. Earlier today, the crypto has also declined to a daily low of $1.70.

However, the cryptocurrency has now risen from its lows to $1.94, marking a surge of 1.62% over the past 24 hours. In a span of seven days, the altcoin price has surged by about 28%. Since its launch, the crypto has skyrocketed by a massive 2,195%, sparking widespread enthusiasm among traders and enthusiasts alike.

Despite this price action, the community is exhibiting a declining interest in it. This is evident from the 24-hour trading volume, which is down by 7.5%, currently at $1.26 billion.

But analysts and market experts remain bullish about the crypto’s potential bullish trend. While many believe it will reach a new all-time high this week, analysts like Ahmed had predicted a rally to $2.3 by today.