As a seasoned crypto investor with years of experience under my belt, I must admit that the recent success story of the Moo Deng, MOODENG token has left me both astounded and skeptical. A return of over $9.5 million in just 16 days is nothing short of extraordinary, even for the volatile world of cryptocurrency.
A cryptocurrency investor has achieved a staggering return of over $9.5 million on investment with the hippo-themed Moo Deng, MOODENG token in just 16 days.
According to information from on-chain analysis provider Lookonchain, a user on the Solana network made a transaction of 9.8 SOL ($1,331) to acquire about 38.7 million MOODENG tokens on September 10.
In approximately two weeks, on September 27th, the investor disposed of 104,000 MOODENG tokens, earning around 112 SOL or roughly $17,900. After this sale, the investor retains over 38.64 million tokens, which have a total value exceeding $9.5 million.
The sudden surge in popularity caused some people to raise doubts, wondering if this achievement was merely a stroke of good fortune or possibly due to illicit inside information being used.
Cryptocurrency traders’ actions have sparked a lot of discussion and uncertainty within the crypto community, as the liquidity reserve for MOODENG was noted to be just $1.8 million, increasing apprehension among investors.
The difference in liquidity means that the investor couldn’t cash out the full amount without affecting the token’s price significantly. This has led some community members to suspect insider knowledge or manipulation by developers, as they believe such a rapid gain is unlikely to happen without some unfair advantage.
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2024-09-27 22:12