Insider Trading Shocking Meme Coin: Millions Hit with 20 Percent of the Supply!

Striking details have emerged about the meme coin, which has come to the fore with suspicion of insider trading.

The meme coin, known as Mother Iggy (MOTHER) and at the center of the controversy, may be stuck in a serious insider trading quagmire.

On-chain analysis platform Bubblemaps revealed that a member of the team sold approximately 10% of MOTHER's total supply on May 29, displaying a clear example of insider trading.

According to the data, an insider with an account starting with “JEET” received 127.5 million MOTHER via OTC from MOTHER’s distributor account. He then sent these assets to several other wallets.

He sold 20 million MOTHER to the Raydium liquidity pool through wallets. Around 2 million dollars profit was made from insider trading transactions.

The same wallet received an additional 40.6 million in another transaction on May 28, bringing its total to 127.5 million. According to Bubblemaps, 20% of the project's total supply was used for insider trading. According to current data, this wallet linked to the team still contains unsold MOTHER worth $400,000 thousand.

Yesterday, a wallet that made 762x in 5 hours from the MOTHER transaction sparked insider trading allegations.