Recently, Solana (SOL)-based Dogwifhat (WIF) and many different mem tokens have brought millions of dollars to their investors.
While investors continue to make money from their mem token investments, the latest news comes from investors with insider information on a Solana-based meme coin.
According to Lookonchain's post, insiders in Solana-based meme token Thug bought as soon as liquidity was added by the developer.
Insiders bought 674 million Thug for 1,500 SOL ($225 thousand) through 4 wallets, then sold 464 million Thug for 11,454 SOL ($1.72 million).
Insiders, who earned $1.5 million with the THUG transaction in a short period of 10 hours, burned the remaining 210M Thug.
“Insider Earns 9,954 SOL ($1.49 Million) With Thug!
Insiders spent 1,500 SOL ($225k) to purchase 674 million Thugs via 4 wallets to which the developer added liquidity.
Later, 674 million Thugs were distributed to multiple wallets and 464 million Thugs were sold for 11,454 SOL ($1.72 million).
Insiders earned 9,954 SOL ($1.49 million) in just 10 hours!
And the remaining 210M Thugs were burned.”
*This is not investment advice.