A Solana (SOL) ecosystem cryptocurrency trader made nearly 4,000% of unrealized gains in a 5-hour trade, raising alerts for insider trading. The initial investment worth $49,000 suddenly became a $2 million stack of TORI, a recently launched meme coin.
According to a report by Lookonchain, a trader spent 344 SOL, worth $49,000, to purchase 261.4 million TORI. The initial SOL originated from two Binance withdrawals to two new wallet addresses on April 25 and 26.
Notably, the trader transferred the TORI tokens to multiple addresses on April 28, immediately after buying them. The 261.4 million TORI has a valuation of $2 million and reached approximately five hours after the trading activity.
Tori the Cat (TORI) and Solana (SOL) liquidity pool. Source: Raydium
Therefore, it is currently impossible to fully realize the $2 million profit while also being extremely challenging to realize any significant profit whatsoever.
Trading meme coins and low-liquidity tokens is a high-risk endeavor and is not recommended for beginners. Before engaging with these cryptocurrencies, traders must remain cautious and properly understand how liquidity issues may affect profit realization.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
