The post ELIZA Token Launch Sparks $3 Million Profit – Inside the Controversy and Insider Frenzy! appeared first on Coinpedia Fintech News
The recent launch of ELIZA, a meme coin, has stirred the crypto market with remarkable profits and heated controversies. According to Lookonchain, a blockchain analytics platform, one trader turned a small $1.9K investment into a massive $3.67 million in just two hours, highlighting the wild potential of meme coin trading.
Big Profits From Small Investments
The trader, operating under the wallet address “ExYQ,” purchased 89.19 million ELIZA tokens for 7.84 SOL, worth $1.9K. Within hours, they sold 49.49 million tokens for 7,091 SOL, equivalent to $1.72 million, while holding onto 39.7 million ELIZA, valued at $1.95 million.
This series of trades showcased an incredible 1,925x return, making it one of the most notable trading successes in recent times.
The ELIZA token isn’t the only example of meme coin traders securing massive gains!
In a similar case, another trader turned $33K into $12.2 million in just 24 days by trading AI16z tokens, proving the meme coin market can be both lucrative and unpredictable.
Controversy Surrounding ELIZA’s Launch
Despite the profits, the ELIZA token’s launch wasn’t without its problems. Shaw, a partner at AI16z, shared that another token with the same name was unexpectedly launched just before their official release.
According to Shaw, the initial launch was scheduled for Monday, but a separate token using the same branding was created via the vvaifu.fun platform.
Meanwhile, the creators of this rogue ELIZA token allegedly contributed to AI16z’s treasury and used the branding to launch their own version, which confused investors.
Further Shaw explained that his team coordinated with the creators to mitigate the impact on their token, highlighting the challenges of navigating intellectual property issues in the decentralized finance space.
What’s Next for ELIZA?
The ELIZA situation has left many wondering about the fairness of the meme coin market. Shaw shared a heartfelt perspective, asking, “What would you do if someone took all your hard work and used it for their own gain?”
While the token’s future remains uncertain, this incident serves as a stark reminder for investors to remain vigilant and cautious, especially when engaging with new projects.
#News [Source: Coinpedia]