Someone sniped $BAKED and made 21,511 $SOL($3M) in just 30 minutes, a gain of 307x!

How did he do it?

We also found that the team and insiders control 763.8M $BAKED(76.38% of the total supply).

Here is a thread.🧵

$BAKED was launched on #DegenFund, and the dev wallet spent 11.82 $SOL to buy 300.72M $BAKED while minting tokens and 206.9M $BAKED was added to liquidity.

The remaining 492.37M $BAKED was snatched up by 19 wallets in just 1 second.

3 of these 19 wallets were created at the same time as the dev wallet and were all funded by #Bitget, most likely belonging to the dev.

15 of these 19 wallets all withdrew $SOL from #Bitget 3 days ago, most likely belonging to the same insider.

These dev and insider wallets spent a total of 82.74 $SOL($11.7K) to buy 779.85 $BAKED(worth $15.6M), 78% of the total supply.

They have sold a small portion of it, and currently have 763.8M $BAKED left, 76.38% of the total supply.

A sniper spent 70 $SOL($9,923) to buy 81.78M $BAKED and sold for 21,581 $SOL($3.06M) in 30 minutes.

He made 21,511 $SOL($3.05M) in just 30 minutes.

https://solscan.io/account/GUw1Av3EGLMtGJUUY4RgQpR4SR8N2EMyowtD8vuNs8ab#transfers

This sniper did not buy $BAKED from #DegenFund, but directly from Raydium's pool.

And we found that this sniper had traded 3 tokens before buying $BAKED, and lost money in 2 of them.

There is no evidence that this sniper is an insider, he was likely just lucky.