Developer Wallet Swaps SOL for $88022 Tokens, Potential Sell-Off Risk

According to @OnchainDataNerd, a developer wallet recently swapped 150 SOL (approximately $22.1k) for 98 billion $88022 tokens. Subsequently, the developer distributed the tokens across 109 wallets, each containing 890 million tokens. Despite the liquidity being locked, there is a significant risk of selling pressure from the team, potentially driving the token's price down.
SourceThe Data Nerd
@OnchainDataNerdThe Data Nerd (On a mission to make onchain data digestible)