Insider Trader Sells Millions of Dollars of Memecoin

A trader who allegedly has inside information about a memecoin project is making millions of dollars in sales.

According to the post of Blockchain analysis platform Lookonchain, the trader started selling the MAGA token, which was inspired by former US President Donald Trump's slogan "Make America Great Again".

This suspected insider(s) spent a total of 5.35 Ethereum ($19,586) to purchase 140.4 billion MAGA through 22 different wallets in the past. This amounts to 33.37% of the total MAGA supply.

The trader has sold 79.9 billion MAGA for 320 Ethereum ($1.05 million) so far. He still has 60.5 billion MAGA in his wallet