A crypto insider turned a $2,000 investment into $1.74 million with the meme coin Daddy Tate (DADDY).
This coin, linked to social media personality Andrew Tate, saw significant gains due to his promotion. Blockchain analytics firm Lookonchain identified the individual as an insider, noting their early and strategic trading of DADDY tokens.
The insider bought 29.8 million DADDY tokens for about $1,950 and later sold 15.14 million for 11,752 SOL, worth $1.74 million. They still hold 13.96 million tokens, valued at $2.8 million, making a total profit of around $5.6 million.
Daddy Tate's market cap is now $262.94 million, trading at $0.266. This case illustrates the potential and risks of the volatile crypto market.
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