An investor sold 21 million Moo Deng meme tokens (#MOODENG ), missing out on a chance to make $6.3 million. Solscan.io data shows that he purchased MOODENG cryptocurrency in seven transactions on September 10, spending 26 Solana (#SOL ) (approximately $3,537) on them.

The trader initially made six transactions of 4 SOL coins each to purchase 2.5 million, 2.4 million, 2.7 million, 2.9 million, 3.5 million, and 4.4 million MOODENG meme tokens. The final, seventh transaction cost him 2 Solana, which he used to purchase 2.4 million MOODENG.

Two hours later, the trader panicked over the sharp drop in the cryptocurrency's price and got rid of 21 million MOODENG, receiving only $297 for them. However, two weeks later, the rate of the cryptocurrency dedicated to the hippopotamus meme skyrocketed and 21 million MOODENG are now worth $6.3 million.

What an unlucky guy! The MOODENG tokens he sold are now worth $6.3 million. He learned about the meme token an hour after trading began and spent 26 Solana to buy 21 million MOODENG coins, whose market cap at the time was $210,000. However, when the asset’s price fell, he panicked, — analysts from the Lookonchain platform wrote.

According to Tradingview, the token, named after a female pygmy hippopotamus named Mu Deng, surged nearly 100% on September 27. And in the 17 days since it launched, MOODENDG has risen 286% from $0.085 to $0.327991. That allowed one trader, who likely used insider data, to turn $800 into $7.5 million.