Crypto Investor Nets 2,554x Return on a $1,300 Hippo-Themed Meme Coin Bet in Just Two Weeks
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
A crypto investor has turned a $1,300 investment into a staggering $3.4 million in just two weeks by betting on the hippo-themed Moo Deng (MOODENG) token.
The story first came to light after on-chain analytics firm Lookonchain identified the trader’s activity on the Solana blockchain.
According to data from blockchain explorer Solscan, the investor initially spent 9.8 Solana, worth approximately $1,331 at the time, to purchase 38.7 million MOODENG tokens on September 10.
In the following two weeks, the value of the Moo Deng token soared exponentially, transforming the modest investment into a $3.4 million fortune.
While this incredible return captured the attention of the crypto community, it also raised questions about the legitimacy of the gain.
Critics pointed out that the MOODENG liquidity pool holds only $1.8 million, making it nearly impossible for the investor to cash out the entire amount at the current market price without significantly impacting the token’s value.
its not really 3.4M if there is only 1.8M of liquidity in the whole pool, bro.
Furthermore, the rapid rise in value has sparked suspicions, with some suggesting that insider trading or developer manipulation might be involved.
Nevertheless, this incident is not an isolated case.
On September 26, Lookonchain reported another instance where a trader turned a $95 investment in INCEPT tokens into $96,900 within just 12 hours.
The analytics firm noted that most of the wallet addresses that recently made such high returns on INCEPT investments appeared to be “insider
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