Suspected Insider Whale Bought More Than Half Of This Altcoin’s Total Supply

Information reciprocatory by cryptocurrency estimate issuer Lookonchain corroborates that an inside whale rendered a comprehensive procurement in a freshly launched memecoin.

According to the information, the wizard in misgiving invented a extensively newfangled cryptocurrency pocketbook and also offered the $230,000 Solana coin to procurement 63.2% of the undocked lug out of the memecoin labelled CAT as openly as it was let loose.

Then, after the price of the token climbed up super correct away, he sold some of his CAT tokens for $5 million.

At the super same time, an additional whale seems to have bagged a comprehensive quantity of this token. A cryptocurrency pocketbook suspected to belong to the fete-gleaning issuer Wintermute offered $301,000 worth of Solana tokens to buy CAT tokens, and also at the time of this designing, they have an latent profit of $886,000.

At the time of designing this write-up, CAT’s undocked fete value has reached up to 25 million dollars. But, memecoins are known to be super unpredictable and also high-bugbear assets and also glean started on not have any kind of innate value different other than the hunch of price upswing.

*This is not economic investment counsel.