US Congressman Mike Collins transitioned from altcoins to memecoins by investing up to $30,000 in Ski Mask Dog (SKI), which experienced a 116% increase in value after he reported the purchase on X.
On Monday, Mike Collins disclosed that he procured two transactions with the masked dog memecoin on December 1 and December 2. He purchased between $1 and $15,000. The exact amount of his purchases remains unknown.
Yesterday, the Unusual Whales X account disclosed its acquisitions. The Republican then replied to the post with a picture of Pepe the Frog wearing shades. Subsequently, the price of SKI increased by 116% within 24 hours, culminating in a price of $0.2281.
Collins also acquired up to $15,000 of the altcoin Aerodrome (AERO). The US Congressman purchased AERO for a maximum of $50,000 on July 6 and subsequently sold and repurchased it on August 5.
However, Aerodrome experienced minimal price fluctuations; it has declined by 0.5% in the past 24 hours, reaching a price of $1.63.
Additionally, earlier this year, Collins acquired the altcoin Velodrome and made two ether transactions totaling $65,000.
Members of Congress are required to report investment purchases, transactions, or exchanges exceeding $1,000 in accordance with the STOCK Act.
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