A mysterious crypto wallet created right before billionaire Elon Musk tweeted about a new memecoin has netted a massive 2,300% profit.
New data from blockchain tracker Lookonchain reveals that an address created an hour before Musk’s tweet about Milady (LADYS), the memecoin associated with the Milady Maker non-fungible token (NFT) collection, saw massive gains after the asset jumped in price.
“We found a mysterious address.
Created one hour before Elon Musk tweeted about Milady.
Withdrew 25 [Ethereum] ($45,362) from Binance and bought 8 trillion LADYS at $0.000000005652.
No other transactions. Is it a coincidence?”
LADYS, which was launched earlier this month, was bought by the address for a price of $0.000000005652 and is trading for $0.000000135961 at time of writing, a rise of about 2,300%.
Lookonchain goes on to bring attention to another savvy LADYS investor who purchased a staggering 2.15 trillion tokens days before Musk’s tweet for a price of $0.000000004035.
According to the data, the trader sold nearly half of his stash for a profit of about $302,000, a 35x increase.
“The SmartMoney bought 2.15 trillion LADYS with 4.7 ETH ($8,679) before Elon Musk tweeted, the buying price is $0.000000004035.
Then sold 1.09 trillion LADYS for 84 ETH ($153,000) at a price of $0.0000001404 and currently holds 1.06 trillion LADYS ($158,000).
The profit is $302,000 with a gain of 35x.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Dr. Norbert Lange/Sensvector
The post Mysterious Wallet Created an Hour Before Elon Musk Tweeted About New Memecoin Nets 2,300% Profit: On-Chain Data appeared first on The Daily Hodl.