Rapper Sean Combs, better known as P. Diddy, launched a new meme coin called DIDDY, and within just two hours, one insider managed to earn $989,600 from investments in this token. This information was provided by the analytics company Lookonchain.
This is reported by Бізнес • Медіа
Details of the Insider’s Deal
According to experts, the insider created a new wallet a day before the token’s launch, funded it, and spent $349,900 to purchase DIDDY. After that, he sold the tokens for $1.4 million, achieving a net profit of $989,600.
“While the market was pumping, @Diddy launched a token called $DIDDY. An insider made $989.6K in under 2 hours. The insider created a new wallet a day earlier and preloaded it with funds—then spent $349.9K to buy $DIDDY and sold for $1.4M, netting $989.6K in profit.”
The Meme Coin Market and Its Popularity
This case highlights the activity in the meme coin market, where traders are making significant profits in a short period. Previously, it was reported that an anonymous trader increased his deposit by 191 times, turning $1,513 into over $295,000 while trading the meme coin GORK on the Solana network. This indicates the growing popularity and potential of meme coins in the cryptocurrency industry.