In an unprecedented flip of occasions, a meme coin dealer garnered vital consideration, buying and selling the newly launched ELIZA token amid its launch controversy. On-chain information on Tuesday identified {that a} dealer made a exceptional $3 million revenue with the abovementioned token. Concurrently, with one other dealer making large trades amid the crypto’s current launch, speculations of the token being controversial floor throughout the horizon.
Meme Coin Dealer Makes $3M With ELIZA, Insider Or Sensible Cash?
In response to information supplied by Lookonchain on November 19, a meme coin dealer turned $1.9K into $3.67M in simply 2 hours, underscoring a staggering 1,925x return. Per the info, the deal with ExYQ spent 7.84 SOL, value $1.9K, to purchase 89.19 million ELIZA. Thereafter, the dealer offered 49.49 million of the identical token for 7,091 SOL, value $1.72 million. In the meantime, it’s noteworthy that the dealer’s remaining holdings totaled 39.7 million cash, value $1.95 million. Altogether, these trades mirrored a exceptional profit-making technique, garnering vital market consideration to the token.
In one other comparable chronicles, crypto whales took motion amid the current bull market to ebook large earnings. Notably, a crypto trader turned $33K into $12.2 million in simply 24 days by buying and selling the newly launched token ai16z. Furthermore, one other crypto whale nabbed a $6 million profit with MANTRA (OM). These profit-making methods sparked vital market discussions amid a bullish crypto market.
Then again, one other dealer was recorded closely dumping a token, thereafter funding the abovementioned token. As per an X publish by the famend crypto fanatic Nate Rivers, the wallet address GxkX.. closely dumped one other token with the identical identify launched by way of vvaifu.enjoyable platform, thereby funding the newly launched ELIZA. Scoping in on this commerce swap, Nate tagged crypto investigator ZachXBT, anticipating a suspicious commerce. Notably, the pockets deal with belongs to ai16zdao’s managing accomplice, Logan.
What’s The Controversy?
Amid the notable revenue booked by the meme coin dealer, Shaw, one other accomplice at ai16z, took to X, clearing the air round ELIZA. Shaw acknowledged that the preliminary launch for the token was deliberate for final Friday. Nonetheless, it was rescheduled for Monday. However, one other token with the identical identify was launched on the identical day by unknown creators. “They contributed to our treasury, and used the vvaifu.enjoyable platform,” Shaw added.
Shaw’s staff coordinated with vvaifun-launched token creators in order that the newly launched ELIZA token doesn’t face severities. “They have been fairly bummed about this, clearly, however agreed to work with us,” Shaw added. These statements supplied a transparent tint that ai16z was behind the newly launched token, whereas Logan’s funding swap soaked the coin in controversy.
Shaw concluded by saying, “What would you do? In the event you labored on a mission, deliberate it, resourced engineers and backers and video manufacturing and every part for it, after which somebody took the artwork you made and used it to make a meme coin that everybody thought was yours?” This chronicle has in flip ignited a wave of speculations, particularly with shifting buyers’ focus in the direction of the leading meme coins.
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