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Data from Solscan.io revealed that an unlucky investor panic-sold 21M $MOODENG, missing out on a chance to cash out $6.3M. He discovered the memecoin at a market cap of $210K an hour after its launch and acquired it for 26 SOL (~$3,537). The investor panicked when MOODENG prices initially dipped and sold his bag for $297 (~2.19 SOL), making a 91.6% loss.
Solscan.io revealed that the investor had acquired the 21M $MOODENG in seven separate transactions. The trader swapped 4 SOL for MOODENG six times, receiving between 2.7 M and 4.41 M of MOODENG tokens in every transaction. After that, the user added a last batch of 2.38M for 2 SOL.
Impatient investor loses out on millions in panic sell blunder
What an unlucky guy!
The 21M $MOODENG he sold for $297 is now worth $6.3M! #MOODENG
He discovered $MOODENG one hour after it started trading and spent 26 $SOL($3,537) to buy 21M $MOODENG, which had a $210K market cap at the time.
However, when $MOODENG dropped, he panicked and… pic.twitter.com/XUt9lAk2yU
— Lookonchain (@lookonchain) September 28, 2024
Lookonchain, a blockchain analytics platform, revealed information about the trader today through an X post. What the investor sold for $297 on September 10 would be worth $6.3 million a little over two weeks later.
Solscan.io’s data showed that the investor started trading on September 10 by swapping 648.02 $RAY for 7.29 $WSOL and 1.67M $ARMY for 8.13 WSOL, bringing the total WSOL to 15.42. Data revealed that the trader carried out six separate transactions of 4 SOL each to acquire 2.5M, 2.4M, 2.7M, 2.9M, 3.5M, and 4.4M $MOODENG respectively. The wallet: 7eCsrP…idAoBz then swapped 2 SOL for 2.4M $MOODENG, bringing the total WSOL spent to 26 for ~21M tokens.
Two hours later, the trader panicked and sold all 21.05M MOODENG for 2.19 WSOL after $MOODENG’s price started dipping.
Solscan.io showed that the investor’s account still held 137,199.27 $JONAH ($111.47), 260 $WAFFLES ($3.41), 200 $REXHAT ($0.18), 1M $PFIRE ($ 0.06), and 1.6M $aSPHYNX.
Savvy investors mint millions with $MOODENG
The memecoin inspired by a female pigmy hippo, Moo Deng, had surged nearly 100% on September 27, according to Tradingview’s data. $MOODENG entered the market at $0.085 but gained 285.8% to $0.327991 in 17 days.
Tradingview revealed that a trader, believed to be an insider, turned $800 into $7.5M on September 27 with $MOODENG. The tokens were worth $3.5M a day before (Sep. 26) when Arkham Intel noticed the trader’s huge gains.
Another trader also flipped $800 (~6 SOL) worth of $MOODENG into over $400K. The trader, with wallet Db3PqV…Vvf4Kuk49 acquired the token as it left the pump.fun, but the investment multiplied 500x after only a week.
Crazy buying of #MOODENG!
A whale spent 10,156 $SOL($1.59M) to buy 6M $MOODENG at an average price of $0.2655 in the past 8 hours.https://t.co/e6IHotznDt pic.twitter.com/WEwQ7MefZ9
— Lookonchain (@lookonchain) September 28, 2024
Earlier today, Lookonchain disclosed that a whale spent 10,156 $SOL worth $1.5M to buy 6 M MOODENG at $0.27. The top 10 MOODENG holders now have tokens worth over $40M, with the top account holding tokens worth over $5 million, according to Solscan.io’s data.
Nermeen Nabil Khear