Congressman’s Ski Mask Dog Token Purchase Sparks 116% Rally After Tweet

From Digital Asset Diversity to Embracing Crypto Culture: A Lawmaker's Journey

  • US Representative Mike Collins invested up to $30,000 in Ski Mask Dog (SKI) memecoin.
  • SKI price increased 116% after Collins acknowledged the purchase on social media.
  • Collins also invested up to $15,000 in Aerodrome (AERO) token.
  • Purchases were disclosed through mandatory Congressional financial reporting.
  • Representative has history of cryptocurrency investments including Ether and Velodrome.

A US congressman’s investment in a niche cryptocurrency triggered substantial market movement, as Representative Mike Collins’ purchase of Ski Mask Dog (SKI) led to a 116% price increase within 24 hours.

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Congressional Crypto Disclosure

According to official disclosure documents, Collins executed two separate SKI token purchases on December 1 and December 2, 2024. Each transaction ranged between $1,000 and $15,000, potentially totaling up to $30,000. The price of SKI reached $0.2281 following Collins’ social media acknowledgment.

Diversified Digital Asset Portfolio

The Georgia Republican’s cryptocurrency investments extend beyond memecoins:

  • Up to $15,000 in Aerodrome (AERO) token
  • Previous AERO investment of up to $50,000 in July 2023
  • $65,000 in Ether purchases
  • Additional holdings in Velodrome token

Regulatory Compliance

The investments were reported under the STOCK Act, which mandates Members of Congress to disclose any investment transactions exceeding $1,000. Collins’ social media response to reports about his purchases included memetic content, which preceded the significant price movement in SKI tokens.

Market Impact

While SKI demonstrated substantial volatility following Collins’ disclosure, his other recent investment, AERO, experienced minimal movement, recording a 0.5% decrease to $1.63 in the same period. The contrasting market reactions highlight the speculative nature of memecoin investments compared to other digital assets.

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