An Alabama Congressman bought the dip in dogecoin and piled into ether and cardano amid crypto market volatility

Dogecoin (DOGE) cryptocurrency logo is seen on a smartphone and a pc screen.
Dogecoin (DOGE) cryptocurrency logo is seen on a smartphone and a pc screen.

  • Alabama Representative Barry Moore recently scooped up dogecoin, ether, and cardano, filings show.
  • Prices of the three cryptos are trading lower than when Moore bought them.
  • Moore bought between $1,000 and $15,000 of dogecoin on June 13, when the meme token was 58% off it’s all-time-high.
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Alabama Representative Barry Moore recently scooped up dogecoin, ether, and cardano amid a dip in some of the cryptocurrencies’ prices, trading disclosure filings show.

According to disclosures filed with the clerk of the House of Representatives on July, Moore scooped up between $1,000 and $15,000 of doge on June 13. Dogecoin traded between $0.3079 and $0.33 June 13, about 58% lower than its all-time-high in May.

The meme token is hovering around $0.23, meaning Moore hasn’t reaped any gains yet.

The Republican congressman also bought between $1,000-$15,000 of Ether (misspelled as Etherium in the filings) on May 5. The token traded around $3,200 that day, significantly higher than current prices but still about $1,000 lower than the coin’s all-time high.

Moore also made three purchases of cardano on May 10, 11, and 13, each with a range of $1,000 to $15,000 per buy. Cardano is currently down 27% from the highest point on May 13.

In total, the Congressman bought between $5,000 and $75,000 of cryptocurrency from these filings. The congressman is required to disclosure these trades under the “Stop Trading On Congressional Knowledge Act.”

Read the original article on Business Insider