The Price of Meme Crypto Teddy Doge Loses 100% in 24 Hours

According to crypto firm PeckShield, on July 23-24, wallets associated with the Teddy Doge (TEDDY) project sold more than $4.5 million worth of tokens.

As a result of this, the price of the asset fell to zero.

Addresses connected to the TEDDY exchange contract received a total of about 10,000 BNB ($2.5 million) and 2 million BUSD. The funds were gradually transferred to Binance.

The company’s experts have said:

“The installer deployed the contract and sent a large amount of TEDDY to the address 0xdbe8ef79a1a7b57fbb73048192edf6427e8a5552, and then pumped and brought down the price of the token.”

According to them, the incident is a “soft version” of a rug pull.