Insider Claim in the Most Talked About Altcoin of Recent Days! “A Whale Entered with $3,000 and Exited with $2.85 Million!”
ALTCOIN

Insider Claim in the Most Talked About Altcoin of Recent Days! “A Whale Entered with $3,000 and Exited with $2.85 Million!”

CryptoNewsTrend Editorial Team
2 min read

Cashcat, a memecoin that has been one of the most talked-about altcoins in recent days and has seen a sharp rise since the launch of Robinhood Chain, is now facing allegations of “insider trading.”

The allegations center around an anonymous address that purchased 16.3 million $CASHCAT for 1.6 $ETH shortly after the token’s launch. According to Lookonchain, a cryptocurrency analysis platform, an address starting with “0xae0F” initially acquired 16.3 million $CASHCAT by spending 1.6 Ethereum (worth $3,000) when it was first launched. Following the massive price surge, it sold all 16.3 million $CASHCAT for 1.527 $ETH ($2.855 million), making a profit of $2.85 million.

This means $CASHCAT has achieved a 952x return.

At this point, the fact that this investor bought $CASHCAT at what could be called a bottom and sold their holdings at what could be considered a top led to the emergence of “insider” allegations for memecoin.

However, there is no official confirmation so far that the investor used insider information.

$CASHCAT, which recently rose above $0.22, has fallen to around $0.11 following the latest sell-off. With a drop of over 35% in just the last 24 hours, $CASHCAT is currently trading at $0.128.

*This is not investment advice.

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