An anonymous source has allegedly made an astonishing 812-fold return on their initial investment within a mere three hours by utilizing the $HULK cryptocurrency. By investing 7.1 Solana tokens (equivalent to roughly $1,200), this trader managed to turn it into 5,753.6 Solana tokens, amounting to almost $978,000 in profit.
In a daring move, the individual employed four brand-new wallet addresses to acquire a substantial 19% of the total $HULK token supply, which equated to 190.2 million tokens. Subsequently, they swiftly sold off all these tokens, receiving 5,760.7 Solana tokens in return. This large-scale transaction not only resulted in personal financial gain but also had a significant impact on the $HULK market.
The aftermath of the insider’s massive sell-off caused the price of $HULK to nosedive by over 85%. This sudden and drastic price plunge highlights the volatile nature of cryptocurrency markets, where substantial transactions can trigger abrupt and severe price fluctuations.
This incident serves as a poignant reminder of the risks inherent in trading digital assets, where market dynamics can swiftly change due to the actions of a select few individuals.