In a stark cautionary tale for meme coin enthusiasts, one trader experienced a devastating loss of $152,000 within a mere half-hour, courtesy of insider trading. As reported by Lookonchain analysts, the unfortunate incident involved the Solana-based meme coin CoolCoin ($COOL). Initially investing 1,600 $SOL to acquire 2.2 million $COOL tokens, the trader was compelled to offload them for a meager 532.58 $SOL, resulting in a staggering loss of 1067.42 $SOL, equivalent to $152,000. Prior to this ordeal, Lookonchain had flagged suspicious activity on the network suggestive of insider trading. They pinpointed a trader who wielded control over the lion's share of CoolCoin tokens, purchasing 574.27 million $COOL for a mere 35.4 $SOL (roughly $5,000) and subsequently dispersing them across multiple addresses. Within the span of an hour, the insider managed to liquidate 22.81 million $COOL from five distinct wallets, yielding an impressive profit of 11,896 $SOL, or approximately $1.69 million.#bitcoin #Memecoins #BullorBear #BinanceLaunchpool #bitcoinhalving