The wallet bought over $1.04 million worth of Shroom coins during the same block where new liquidity was deployed.
An unknown trader made $8.9 million in profit in less than one hour by trading the Shroom memecoin during the same block where developers added liquidity, on-chain data) tokens worth $1.04 million on Shroom coins, in the same block where the token contract deployer added new liquidity. After an hour, the trader sold for 57,112 SOL worth $9.93 million, according to a March 20
The Shroom token was launched on Raydium on March 20 as a mushroom-themed memecoin with no underlying utility or intrinsic value. The token’s price has fallen over 70% since launch, and it currently sits at a market cap of $11.88 million, according toThe peculiar timing of the profitable trade caused"insider trading" allegations among the crypto community. In response to Lookonchain’s post, X user Blockchain Maxi.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Memecoin BOME surges amid Binance insider trading controversyBook of Meme (BOME), a recently released meme coin on the Solana network, saw a huge boost to $1 billion in market capitalization on Monday after its launch on Binance.
Read more »
Solana memecoin SLERF accidentally burns $10 million presale tokensSolana-based tokens have dominated the meme coin narrative with nearly double-digit gains in the past week.
Read more »
New Denver festival celebrates psychedelic culture with music, art and ‘shroom giftingIt’s called Denver Shroom Fest. here’s what’s in store for the inaugural event.
Read more »
Memecoin SLERF asks for community donations after developer's screwupThe developer of the sloth-themed meme coin Slerf (SLERF) is calling for donations from the crypto community after he “accidentally burnt” 50% of the token’s supply, including funds already sold to investors on presale.
Read more »
Slerf’s memecoin launch: ‘Mindless’ screw-up or marketing stunt?There’s speculation that the developer of Slerf may have burned the memecoin tokens on purpose to drum up hype for the project, though the evidence is circumstantial.
Read more »
Solana memecoin Slerfsol recovers after $10M token burn fiascoA failed $10 million token burn did not prevent Solana memecoin Slerf from surpassing a market cap of $500 million.
Read more »