It looks like the recent drama surrounding the #eliza and #ELIZA tokens involves a mix of strategic token deployment, insider trading, and rapid profit-taking. Let's break it down:

1. $ELIZA Token Launch

- Deployment: The token $ELIZA was deployed at 06:01:41 UTC by a wallet identified as "FEbv...4ZcW." At the exact same moment, 10 different wallets (likely coordinated) bought up massive quantities of $ELIZA. In total, these wallets bought 69.05 million $ELIZA for just 2.07 $SOL (about $503), making the token price extremely cheap at launch.

- Price Surge: Those wallets didn't immediately dump their $ELIZA holdings, and the price of the token began to rise rapidly, potentially spurred by insider awareness and speculative interest.

2. Insider Activity and Suspicion

- Pre-Announcement Purchases: Before the official announcement of $ELIZA by Shaw (@shawmakesmagic) on Discord, certain wallets had already made significant buys, suggesting they had prior knowledge of the launch.

- GxkX...W2Yg Wallet: This wallet, believed to be associated with someone named "Logan" (@futjr_), is suspected of having bought a large amount of $eliza (the earlier token) before the $ELIZA deployment. They spent 24.2 $SOL (about $5.9K) to buy 233.12 million $ELIZA tokens (worth around $17.67 million at the time of writing).

- Largest Holder: As a result of this purchase, the GxkX wallet became the largest holder of $ELIZA, and it appears to be closely connected with the deployer of $ELIZA, further feeding the suspicion of insider manipulation.

3. Massive Profit and Dumping

- ExYQ...vNw Wallet: Another insider wallet, likely associated with the early buyers, spent 7.84 $SOL (roughly $1.9K) to buy 89.19 million $ELIZA, then sold 53.47 million of those tokens for a massive profit—7,865 $SOL ($1.91 million). This left the wallet with 35.72 million $ELIZA ($2.75 million), but the profit from the sale was $4.66 million, representing an incredible 2,446x return in just a few hours.

- Dumping on Retail: The insiders appear to have dumped their $ELIZA holdings onto retail investors, driving up the price for a short time before selling at a profit, leaving those who bought in later with potentially large losses as the token price corrected.

- The situation is a classic "pump and dump" scenario with insider trading at its core. Those with early access to information or control over token deployments were able to capitalize massively, while retail investors were left holding the bag after the insiders exited.

- The launch of $ELIZA, coupled with the rapid accumulation of tokens by insiders and their subsequent massive profits, suggests a level of manipulation, or at least a highly coordinated effort to exploit early token buyers.

The whole incident underscores the risks of participating in high-volatility crypto token launches, especially when there's potential for insider knowledge and pump-and-dump schemes. The broader crypto community and regulators will likely be watching closely as the fallout from this kind of behavior continues to unfold.



(Below is a narration by lookonchain)

AI16z partner @shawmakesmagic tweeted that they freed $eliza and deployed a new token called $ELIZA!

Many insiders bought a massive amount of $ELIZA and dumped it!

1/ Let's dive in!

2/ Wallet"FEbv...4ZcW" deployed $ELIZA at 06:01:41 UTC.

Someone created 10 wallets and used them to buy 69.05M $ELIZA($5.2M currently) with 2.07 $SOL($503) at the same second the token was deployed.

The 69.05M $ELIZA has been transferred to new wallets and has not been sold.



3/ GxkX...W2Yg is suspected by the community to be Logan(@futjr_)'s wallet.

GxkX...W2Yg sold a large amount of $eliza before $ELIZA was deployed and spent only 24.2 $SOL($5.9K) to buy 233.12M $ELIZA($17.67M currently), becoming the largest holder of $ELIZA.



4/ And GxkX...W2Yg is associated with the $ELIZA deployer FEbv...4ZcW.



5/ Before Shaw(@shawmakesmagic) announced $ELIZA in Discord, many addresses bought $ELIZA, likely insider addresses.

These insider addresses are dumping tokens in large quantities to retail investors.



6/ Insider "ExYQ...vNw" spent 7.84 $SOL($1.9K) to buy 89.19M $ELIZA, and sold 53.47M $ELIZA for 7,865 $SOL($1.91M), leaving 35.72M $ELIZA($2.75M).

This insider made $4.66M in just a few hours, a 2,446x return!