An unknown trader made $1.28 million on the FAI meme token in just two days. Lookonchain analysts drew attention to this.
Turn $15.3K into $1.29M in just 2 days on #Base!
This trader spent 4.2 $ETH($15.3K) to buy 253.63M $FAI 2 days ago, then sold 91.8M $FAI for 106.2 $ETH($384K), leaving 161.8M $FAI ($911K).
Total profit: $1.28M!
Address:https://t.co/0Xh2sS4xayhttps://t.co/iTtcCq2Blt pic.twitter.com/fShKhyMJGu
— Lookonchain (@lookonchain) November 30, 2024
On November 27, he spent 4.2 ETH (about $15,300) to buy 253.63 million FAI.
Over the next two days, he sold 91.8 million FAI in installments for 106.2 ETH (approximately $384,000), leaving 161.8 million FAI worth $911,000 in his wallet.
Thus, analysts estimated its total profit (including paper profits) at $1.28 million.
In September, an unknown investor spent $815 in SOL to buy 30.1 million MOODENG meme coins. After 17 days, the value of the assets increased to $9.4 million.
In October, a trader turned $727 into $2.42 million in four days on the GOAT meme token.
According to billionaire Mark Cuban, all meme tokens are potentially a “long-running” rug pull scam.
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Source: Cryptocurrency
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