Insider Trading Suspicion on Meme Coin: Made 762x in Just 5 Hours!

Cryptocurrency investor became rich in just 5 hours thanks to meme coin.

According to data provided by the on-chain analysis platform Lookonchain, a cryptocurrency investor made 762x in 5 hours thanks to a meme coin called MOTHER.

The data revealed that the investor in question purchased 86.55 million MOTHER, worth $861, very soon after MOTHER was launched. This amount corresponded to 8.66% of the total supply.

During the following 5-hour period, when the MOTHER price rose beyond expectations, the investor sold 80.41 million of his assets for 509 thousand dollars.

After the sale, the investor was left with 6.14 million MOTHER worth 148 thousand dollars. This trader had previously traded 700 different meme coins and the success rate was only 25% and he was losing money. However, thanks to the MOTHER move, it made a significant profit.