Trader Turns $1.9K Into $3.67M From ELIZA Tokens in Just Two Hours
- DDDOriginal
- 2024-11-20 00:26:15261browse
The recent launch of ELIZA, a meme coin, has stirred the crypto market with remarkable profits and heated controversies.
One trader turned a small $1.9K investment into a massive $3.67 million in just two hours from ELIZA tokens, highlighting the wild potential of meme coin trading.
The trader, operating under the wallet address “ExYQ,” purchased 89.19 million ELIZA tokens for 7.84 SOL, valued at $1.9K. Within hours, they sold 49.49 million tokens for 7,091 SOL, valued at $1.72 million, while holding onto 39.7 million ELIZA, valued at $1.95 million.
This series of trades showcases an incredible 1,925x return, making it one of the most notable trading successes in recent times.
In a similar case, another trader turned $33K into $12.2 million in just 24 days by trading AI16z tokens, further demonstrating the lucrative nature of the meme coin market.
However, the ELIZA token's launch was not without its problems. According to Shaw, a partner at AI16z, another token with the same name was unexpectedly launched just before their official release.
The initial launch was scheduled for Monday, but a separate token using the same branding was created via the vvaifu.fun platform.
The creators of this rogue ELIZA token are suspected to have contributed to AI16z's treasury and used the branding to launch their own version, which ultimately confused investors.
Shaw's team quickly coordinated with the creators to mitigate the impact on their token, highlighting the challenges of navigating intellectual property issues in the decentralized finance space.
"What would you do if someone took all your hard work and used it for their own gain?" Shaw asked, expressing his frustration over the situation.
The incident serves as a stark reminder for investors to remain vigilant and cautious, especially when engaging with new projects.
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