Meme Coin Trader Records $3M Profit With ELIZA Trading Amid Launch Controversy

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As a seasoned crypto investor with years of experience under my belt, I’ve seen it all – from moonshots to dumpsters. The recent events surrounding the ELIZA token have certainly piqued my interest. On one hand, we have a trader making an astounding $3 million profit in just two hours, which is nothing short of impressive. However, the controversy surrounding the token’s launch and the alleged involvement of certain prominent figures in the crypto space has left many investors, including myself, scratching their heads.

In an unexpected twist, a meme coin trader gained considerable interest as they traded the newly introduced ELIZA token, which was surrounded by controversy during its launch. On-chain data on Tuesday revealed that this trader made an impressive $3 million profit from the token. Meanwhile, another trader was also observed making large trades in relation to the crypto’s recent debut, leading to rumors and speculation about the token being questionable across various platforms.

Meme Coin Trader Makes $3M With ELIZA, Insider Or Smart Money?

On November 19th, as reported by Lookonchain, a meme coin trader managed to transform an initial investment of $1,900 into a staggering $3.67 million in just two hours, resulting in an astronomical 1,925-fold return. The trader, using the address ExYQ, initially spent 7.84 SOL ($1,900) to purchase 89.19 million ELIZA tokens. Subsequently, they sold 49.49 million of the same tokens for 7,091 SOL ($1.72 million). Interestingly, their remaining holdings amounted to 39.7 million coins worth approximately $1.95 million. This trading activity showcased a highly effective profit-making strategy and drew considerable market focus towards the token.

In other comparable accounts, large cryptocurrency investors seized opportunities during the recent upswing in the market to amass substantial earnings. For instance, an astute cryptocurrency trader transformed $33,000 into an impressive $12.2 million in merely 24 days by trading the newly introduced token ai16z. Additionally, another wealthy crypto investor secured a $6 million profit through MANTRA (OM). These profitable tactics have ignited lively conversations within the market as the cryptocurrency sector continues to thrive.

In a different scenario, another trader was observed selling large amounts of a token, followed by investing in the same token. As per a post on X by well-known crypto enthusiast Nate Rivers, the wallet address GxkX… sold a different token with the same name launched through vvaifu.fun platform, and used the funds to invest in the newly launched ELIZA. Nate pointed out this trade to crypto investigator ZachXBT, suggesting it could be a questionable transaction. Importantly, the wallet address is linked to managing partner Logan of ai16zdao.

What’s The Controversy?

In the midst of substantial earnings made by meme coin trader Shaw, another ai16z partner spoke up on X, addressing rumors surrounding ELIZA. Shaw explained that the token’s original launch was set for last Friday but was postponed to Monday instead. However, a different group anonymously launched a coin with the same name on the same day. “They deposited funds into our fund and utilized the vvaifu.fun platform,” Shaw clarified.

Shaw’s team collaborated with creators of tokens launched by vvaifun to ensure that the recently introduced ELIZA token wouldn’t encounter troubles. “They were understandably upset about this, but agreed to cooperate with us,” Shaw explained. This collaboration implied that ai16z was involved in the creation of the newly issued token, while Logan’s investment swap stirred up controversy surrounding the coin.

Shaw ended by posing this question: “Imagine if, after devoting time and resources into a project, designing it, gathering engineers, financial supporters, and video production crew, only to find someone using your work to create a meme-based cryptocurrency that everyone believed was yours? This story has sparked many discussions, particularly as investors are now showing increased interest in the popular meme coins.

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2024-11-19 15:12