A savvy investor, identified by the wallet address 6naxt…YWDbK, has demonstrated remarkable foresight by transforming a $1,146 investment into $1.047 million in just nine days, achieving an extraordinary return of 91,297%.

Surprisingly, the trades suggest no evidence of insider activity.

1️⃣ Initial Buy: On October 20, the investor purchased 55.85 million $SWARMS tokens during the internal trading phase at an average price of $0.00002052. The total cost was just 5.88 SOL.

2️⃣ Strategic Moves: Shortly after acquiring the tokens, half the position was sold within a minute, while 11.3 million tokens were transferred to a secondary address, Gh2tx…y4XX2.

3️⃣ Exit Strategy: The remaining tokens were gradually sold during $SWARMS’ official launch and subsequent price surge, at an average price of $0.01401.

As of now, both wallet addresses still hold 11.14 million tokens, currently valued at $420,000.

I know Kai personally. He is extremely controversial for writing code that doesn’t work and front running releases from real researchers with broken versions of their research.

You can do what you want but swarms is trash code.

— Shaw 🌙 */acc (@shawmakesmagic) December 20, 2024

What is $SWARMS?

$SWARMS is a concept token linked to AI agents, launched by high school entrepreneur KYE (@KyeGomezB), also known as Afro. Initially under the radar, the project gained unexpected traction when Shaw, founder of ai16z DAO, tweeted skepticism about its positioning, triggering a sharp price drop.

Ironically, this controversy drew attention from the crypto community. KYE’s consistent engagement, along with the strong performance of the ecosystem token $MCS, helped $SWARMS recover and achieve today’s significant surge. The token now boasts a market cap of $37.3 million.

In the past 24 hours, $SWARMS has skyrocketed 82%, reaching a record high. Meanwhile, another whale, 5Hfrn…bhUAs, began building their position 10 days ago and has now accumulated 46.77 million tokens (valued at $2.73 million).

This whale’s average buy-in price was $0.03093, resulting in a floating profit of $1.175 million, representing 4.67% of the total token supply.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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The post Smart Money Turns $1,146 Into $1.047 Million With A 91,297% ROI On $SWARMS—Without Insider Trading appeared first on The Merkle News.