Georgia Congressman’s Ski Mask Dog Investment Falls 98% From Peak
Summary
- Forbes reported that meme coin Ski Mask Dog (SKI) has fallen about 98%% from its peak.
- SKI reached an all-time high of $0.27 two days after Collins disclosed his first purchase, but now trades at about $0.005.
- The episode has renewed attention on the risks of investing in volatile meme coins.
Forecast Trend Report by Period
A meme coin purchased by U.S. Representative Mike Collins of Georgia has tumbled about 98% from its peak, Forbes reported.
Forbes reported on June 18 that Collins disclosed an initial investment of $1,001 to $15,000 in meme coin Ski Mask Dog, or SKI, in December 2024.
He later made 11 additional purchases and one sale of the asset. His current holdings are estimated at $10,000 to $160,000.
SKI reached an all-time high of $0.27 two days after Collins disclosed his first purchase, Forbes said. It has since fallen to about $0.005, or roughly 98% below that peak.
Asked why he invested in the meme coin, Collins was quoted as saying he "just liked it."
The episode has renewed attention on the risks of investing in highly volatile meme coins.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
