In summary
- On September 10, an anonymous trader bought 6 SOL of the Moo Deng meme Cryptocurrency for $800, and that investment was worth around $7.5 million on Friday.
- The initial $800 investment rose to $3.5 million early Thursday and then to $7.5 million Friday, according to Blockchain data.
- Moo Deng is trading above $0.25 per token, following a rise of 83% in the last 24 hours, and has increased by 1,300% in a week.
On September 10, an anonymous trader whose Solana wallet begins with “Db3P” purchased 6 SOL of a new meme cryptocurrency called Moo Deng. That $800 investment, which the trader made four hours after the token was launched, was worth about $7.5 million on Friday, according to blockchain data.
That’s up from $3.5 million earlier Thursday, when Arkham Intelligence last reported on this trader’s incredible gains. Decrypt examined blockchain data on Friday, following further price increases, and found that approximately 30.2 million MOODENG tokens are still held between the main wallet and three others, following transfers made to those wallets last week. So far no tokens have been sold.
Altcoin season is back and in full bloom, although the as-yet-unnamed trader has faced accusations on Twitter of being an “insider” who got ahead of himself in purchasing the coin, or an undisclosed member of the team now harvesting the rewards. Of course, it’s not over until it’s over, and it probably will be when Db3P actually gets paid, which could signal that the whole thing will collapse, since the coin is backed by nothing and has no use.
Meanwhile, Moo Deng is trading above $0.25 per token at the time of writing, following an 83% rise in the last 24 hours, according to CoinGecko.
Inspired by the Thai pygmy hippopotamus of the same name, which has gone viral in recent weeks, Moo Deng has almost doubled in value in the last day and has increased by 1,300% in a week, becoming the memecoin of the moment.
How long will the MOODENG Boom last? Will Db3P get out in time? Stay tuned.
Edited by Andrew Hayward
Editor’s note: This story was originally published on September 26, 2024. It was last updated on September 27 with updated price information and additional analysis of blockchain data.
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