Around 11:00 AM on January 21, the Meme coin "1" on the BSC chain experienced a fierce decline. It plummeted from $0.0164 to a low of $0.0064 in just 3 hours, then rebounded and is now stable at around $0.0079, corresponding to a market cap of $7.9 million.

Interestingly, the average cost basis of the top 100 largest holding addresses is about $0.0066, and their total holdings account for 61% of the circulating supply. The top 10 addresses are even more particular, with an average cost basis around $0.00787 and a holding share of 24.5% — many whales' costs are right around the current price, indicating that large holders might have a more complex mindset.

What’s more painful is that most KOL addresses still holding this coin are currently in floating loss. It seems this round of correction has made many early supporters feel a bit awkward.