Five wallets, which allegedly belong to one person, sold 14.53 million WIF worth about $24 million. Lookonchain analysts drew attention to this.
According to experts, the trader purchased tokens on November 30, 2023 for a total amount of $5,340. Thus, he increased the deposit by 4497 times.
“If he had sold them at the peak, he would have earned more than $69 million and received 12,927 times earnings,” the analysts noted.
Over the past week, WIF has fallen 37.8%, according to CoinGecko. At the time of writing, the token is trading at $1.53.
Previously, an insider trader earned $5.6 million on DADDY, which is promoted by Andrew Tate. A former kickboxer has deployed a meme token as a competitor to the MOTHER coin from singer Iggy Azalea.
In June, some users made millions by listing WaterCoin (WATER) on the Jupiter and Raydium exchanges. Immediately after the start of trading, the meme token soared by 83%, which brought $2.9 million to one of the traders.
Recall that Ethereum co-founder Vitalik Buterin criticized celebrities’ experiments with meme coins and called for focusing on projects with a focus on public goods, rather than on enriching insiders. #BTC
