Crypto trader earns $ 1 million in 2 hours on DIDDY meme token

Editor’s note: not investment advice!

An unknown user made almost a million dollars in profit in two hours thanks to the early purchase of the DIDDY meme coin, which is associated with rapper Sean Combs. According to analytics company Lookonchain, this is a typical example of insider participation in a token launch.

According to the investigation, the insider created a new crypto wallet the day before the DIDDY token appeared on the market, then deposited funds and spent $ 349,900 to buy the token immediately after the start of trading. Two hours later, he sold the assets for $ 1.4 million, which resulted in a net profit of $ 989,600.

The DIDDY token, according to Lookonchain, is directly related to rapper Sean Combs (P. Diddy), who, according to open sources, was in a detention center in Brooklyn at the time of the token’s launch. This added to the resonance of the event, but there is no confirmation of the artist’s official involvement in the token launch.

This case has sparked a new wave of discussions about the transparency of memecoin launches, where early access to information and token distribution plays a significant role. Such situations often become indicators of risks for retail investors who enter projects after the first price spike.

Earlier, in a similar situation, a trader on the Solana network turned $ 1513 into more than $ 295,000 by trading another memcoin, GORK. Such examples demonstrate the volatile and speculative nature of memtokens, despite their growing popularity in the crypto community.

The No Worries editorial team strongly advises readers not to invest their own funds in dubious crypto projects and little-known digital assets!