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Whale account is dumping a large amount of FARTCOIN and transferring SOL to a Centralized Exchange.
According to Gate News bot, on-chain data shows that a whale address (AY4pMi8aQjxrD52QZBUm8rpdcrQL3rYs6fuhpgTw7XP4) sold FARTCOIN tokens through two transactions. In the first transaction, 7.44 million FARTCOIN were sold for 46,128.4 SOL (approximately 6.47 million USD); subsequently, another 5.89 million FARTCOIN were sold for 41,253 SOL (approximately 6.07 million USD). These SOL were then transferred to a centralized exchange.
Data shows that the wallet currently still holds 12,873 FARTCOIN, worth approximately $11,500.
Source of information: Onchain Lens, Nansen