US congressman Mike Collins goes from altcoins to memecoins

US Congressman Mike Collins has gone from altcoins to memecoins by investing up to $30,000 in Ski Mask Dog (SKI), which rocketed 116% in price after he acknowledged the purchase on X.

Mike Collins published his Periodic Transaction Report on Monday, revealing he made two purchases with the masked dog memecoin on December 1 and December 2. It’s unclear how much he bought but each purchase was between $1 and $15,000. 

The Unusual Whales X account reported on his purchases yesterday. The Republican representative then responded to its post with a picture of Pepe the Frog wearing shades. The price of SKI subsequently rose 116% over 24 hours, reaching a price of $0.2281. 

Read more: US congressman Mike Collins loves day trading altcoins, report

Collins also bought up to $15,000 of the altcoin Aerodrome (AERO). The US Congressman previously bought up to $50,000 worth of AERO on July 6 before selling and buying AERO again on August 5.

Aerodrome, however, saw very little in price change; it has decreased 0.5% in the last 24 hours, reaching a price of $1.63.

Collins has also bought the altcoin Velodrome and made two ether purchases totaling $65,000 earlier this year. 

Under the STOCK Act, Members of Congress must report investment purchases, sales, or exchanges over $1,000.

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