Ramazan Eles 
Solana’s (SOL) popular memecoin project, Beercoin (BEER), has lost over 70% of its value in a single transaction.
The “liquid gold” memecoin’s price plummeted this morning.
According to SolanaFloor data, a large BEER investor sold $10 million worth of BEER memecoins early this morning. This sudden and large sell-off triggered a sharp decline in BEER’s price.
TradingView data shows that BEER’s price dropped from $0.003 to $0.0008 this morning, losing over 70% of its value.
BEER had gained significant popularity in the Solana ecosystem over the past month. It trended on Twitter in Europe and Asia at the end of last month.
BEER quickly amassed over 300,000 social media followers and held a presale worth 30,000 Solana. It broke records by reaching its target amount in a short period.
After the presale, BEER began trading on Raydium and a few other decentralized exchanges (DEXs).
Solscan data shows that BEER has over 41,000 users with a total supply of 885.8 million. The project aims to rival other memecoins like PEPE, WIF, and FLOKI.
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