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.”
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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.