Crypto investor turns $1,300 into $3.4M in 15 days

A cryptocurrency investor achieved a singular 2,554-fold return connected a well-timed $1,300 finance successful nan hippo-themed Moo Deng (MOODENG) token.

However, this summation has raised suspicions among immoderate organization members who estimate that an insider aliases developer whitethorn person been involved.

On Sept. 25, onchain analytics patient Lookonchain identified a crypto trader connected nan Solana blockchain who traded their measurement into becoming a millionaire successful 2 weeks. 

Data from Solana Blockchain explorer Solscan shows that connected Sept. 10, nan crypto investor sold 9.8 Solana (SOL) worthy $1,331 to acquisition 38.7 cardinal MOODENG tokens. 

Source: Lookonchain

In nan adjacent 2 weeks, nan marketplace value of nan hippo-themed memecoin accrued exponentially, yet turning nan first $1,331 finance to $3.4 million.

Pure luck aliases insider trading?

However, crypto organization members noted that nan MOODENG excavation had a liquidity of $1.8 million, which would not let nan investor to rate retired nan full finance astatine nan existent marketplace price.

The staggering value appreciation led galore others to fishy nan engagement of insider trading aliases an in-house developer. On nan different extremity of nan spectrum, users celebrated nan trader while anticipating akin “luck” successful their early trades. 

Related: Unknown crypto whale has been scooping up WBTC amid controversy

On Sept. 26, Lookonchain revealed different trader who profited complete 1,000 times from a $95 altcoin finance successful nether 12 hours.

Source: Lookonchain

The crypto investor purchased $95 of INCEPT tokens and turned it into $96,900 successful half a day. Lookonchain besides noted that astir wallet addresses that precocious made profits of akin standard connected INCEPT investments “appear to beryllium insider wallets.”

While immoderate crypto investors stake connected altcoins hoping for unrealistic returns, others travel nan tried and tested hodl strategy.

Hodl strategy arsenic profitable arsenic memecoin investments

A cryptocurrency investor made a profit of $131.72 million by investing successful Ether (ETH) during nan 2022 carnivore marketplace and holding it done uncertain marketplace conditions for 2 years.

Ethereum acquisition timeline of nan gem hands Ethereum investor. Source: Lookonchain

Lookonchain said nan investor purchased 96,639 ETH from nan Coinbase crypto speech betwixt Sept. 3 and 4, 2022. At nan time, Ether was trading astatine astir $1,567.

Magazine: Lady of Crypto will beryllium ‘all retired of crypto’ by September 2025: X Hall of Flame