Categories: News

Insider Trading Suspected As $DJT Token Experiences Volatile Market Activity

A newly created wallet, suspected of insider trading, recently spent 1,363 $SOL (approximately $188,000) to acquire 52.09 million $DJT tokens just before news broke about the launch of Donald Trump’s official token, $DJT, on the Solana blockchain.

Following the announcement, the same wallet withdrew an additional 1,000 $SOL (about $138,000) from Binance to purchase another 6.62 million $DJT tokens.

Currently, this wallet holds 58.71 million $DJT tokens, valued at $1.56 million, making it the third-largest holder of $DJT. The significant acquisitions prior to the public announcement suggest potential insider knowledge.

In another case of astute trading, a wallet identified as 5Ffhy…R5msK demonstrated impressive market timing. Over three days, this trader bought low and sold high, realizing a profit of more than 33 times the initial investment.

On June 16, they purchased 11.15 million $DJT tokens at an average price of $0.001005, spending 74.69 $SOL (around $11,000). They then sold all holdings at $0.03468 just three hours ago, securing a profit of $370,000, with a return rate of 3349%.

https://x.com/ai_9684xtpa/status/1802983707021832528?t=9X7DhDJzPso141uoRlDoOg&s=19

Related Post

Trader Lost Over $341,427 In A Single $DJT Trade

Conversely, not all trades were successful. Another trader spent 2,500 $SOL (approximately $342,100) to buy 91,705.6 $DJT tokens. Unfortunately, when they sold, they received only 4.91 $SOL (about $673) back, resulting in a staggering loss of $341,427 in less than one minute.

These incidents highlight the volatile nature of the $DJT token market following the launch announcement. While some traders have capitalized on the token’s rapid price movements, others have faced significant losses.

The suspected insider trading activity and subsequent market fluctuations underscore the risks and potential rewards in the rapidly evolving cryptocurrency landscape. As the market continues to react to the launch of $DJT, traders and investors will be closely monitoring further developments.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

The 6 Top New Meme Coins to Invest in for Long Term with the BTFD Big50 Discount Offer

The meme coin market has been buzzing with excitement lately, hasn’t it? The wider crypto…

1 hour ago

100x Crypto For 2025: Cronos, Algorand, Kaspa, & BlockDAG – Explore Potential Breakouts!

While the early days of Bitcoin are a thing of the past, the cryptocurrency market…

12 hours ago

Grab the 4 Best New Meme Coins to Invest in Today: Big Discounts, Bigger Gains with BTFD’s Festive Deal!

Imagine this: a market dip so juicy, it’s practically begging to be seized. For savvy…

17 hours ago

Top Crypto Presales to Buy Now for Substantial ROI in 2025

Top 5 Presale Cryptos That Could Make You the Next Millionaire in 2025! With 2025…

19 hours ago

Missed Bitcoin? Don’t Miss DexBoss [DEBO]—The Best Crypto Presale that Could Make Millionaires by 2025. 

Did you miss the Bitcoin boom? Then, don't miss DexBoss; it has the best crypto…

19 hours ago

3 Altcoins You Need In This Market Dip To Prepare For The Next Bullish Pump

Investors are concentrating on top altcoins with great surge potential as the bullish momentum picks…

20 hours ago