An investor in crypto made a stunning 2,554-fold profit on a timely $1,300 purchase in the Moo Deng (MOODENG) coin, which has a hippo motif.
Some community members, however, are suspicious that an insider or developer could have been engaged in this benefit.
A cryptocurrency trader on the Solana blockchain who traded their way into earning a billionaire in two weeks was discovered on September 25 by blockchain analytics company Lookonchain.
According to information gleaned from Solana Blockchain explorer Solscan, the cryptocurrency investor sold 9.8 Solana for $1,331 on September 10 in order to buy 38.7 million MOODENG tokens.
The hippo-themed memecoin's market value skyrocketed over the course of the following two weeks, increasing the original $1,331 investment to a whopping $3.4 million.
Stealth trading or just plain luck?
Members of the cryptocurrency community pointed out that the $1.8 million liquidity of the MOODENG pool meant that the investor could not pay out the whole investment at the current market value.
Many others began to suspect insider trading or the involvement of an in-house developer due to the astounding price rise. Conversely, some applauded the trader and hoped to have a similar level of "luck" in their next transactions.
Lookonchain said on September 26 that a second trader had made nearly 1,000 times the profit on a $95 cryptocurrency investment in less than a day.
In under thirty minutes, the investor in cryptocurrency that had invested $95 in INCEPT tokens had made $96,900. Additionally, according to Lookonchain, the majority of wallet addresses that have lately realized comparable-scale returns from INCEPT investments "appear to be insider wallets."
While some cryptocurrency investors place bets on altcoins in the hopes of earning astronomical profits, others stick to the tried-and-true hodl technique.
Lookonchain said on September 26 that a second trader had made nearly 1,000 times the profit on a $95 cryptocurrency investment in less than a day.
In under thirty minutes, the investor in cryptocurrency that had invested $95 in INCEPT tokens had made $96,900. Additionally, according to Lookonchain, the majority of wallet addresses that have lately realized comparable-scale returns from INCEPT investments "appear to be insider wallets."
While some cryptocurrency investors place bets on altcoins in the hopes of earning astronomical profits, others stick to the tried-and-true hodl technique.
#solonapumping #HMSTRonBinance #mememcoinseason2024 #BinanceLaunchpoolHMSTR #CATIonBinance
