Rapper Sean Combs, better known as P. Diddy, launched a new meme coin DIDDY, which resulted in impressive profits for one of the investors. According to data from the analytics company Lookonchain, the insider managed to earn $989,600 through quick investments in this token.
This is reported by Finway
Insider’s Strategy
The insider created a new wallet a day before the token’s launch, funded it, and spent $349,900 to purchase DIDDY. Less than two hours later, the investor sold the tokens for $1.4 million, achieving a net profit of $989,600.
“While the market was on the rise, @Diddy launched a token called $DIDDY. The insider earned $989.6K in less than 2 hours,” stated Lookonchain.
Further Achievements in Cryptocurrency
This event highlights the activity of investors in the meme coin sector, as we recently reported on an anonymous trader who managed to increase their deposit by 191 times, turning $1,513 into over $295,000 by trading the meme coin GORK on the Solana network.
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