Memecoin

As users suspect insider trading, a trader earned several hundred thousand dollars on an unknown token called DizzyHavoc. 
An unknown trader made a profit of 69.6 Ethereum (<a href="https://crypto.news/price/Ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>), the equivalent of $225,700, on the new DizzyHavoc (DZHV) token in a couple of days. Lookonchain analysts drew attention to this case. 
On Feb. 26, the trader&nbsp;spent 0.2 ETH to buy 6.47 million DZHV and sold it for 69.8 ETH. 
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 In just 2 days, this trader made 69.6 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($225.7K) with only 0.2 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($635). He spent 0.2 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($635) to buy 6.47M <a href="https://twitter.com/search?q=%24DZHV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$DZHV</a> on Feb 26 and sold it for 69.8 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ETH</a>($226.4K).<a href="https://twitter.com/search?q=%24DZHV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$DZHV</a> was launched on Jan 29 but has seen almost no trading volume. Coincidentally, right after this trader… <a href="https://t.co/fJUto8MZZm" target="_blank">pic.twitter.com/fJUto8MZZm</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1762736616890904683?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 28, 2024</a>
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DZHV was launched on Jan. 29, but trading volume remained low. However, within two days of the trader’s purchase, the token suddenly jumped 82%. 
At the time of writing, the price of DZHV is $0.06464, down by 16% in the last 24 hours, according to&nbsp;CoinMarketCap. The daily trading volume is estimated at $17.89 million. Currently, the coin is traded only on the decentralized exchange (<a href="https://crypto.news/tag/dex/" target="_blank" rel="noreferrer noopener">DEX</a>) <a href="https://crypto.news/tag/Uniswap/" target="_blank" rel="noreferrer noopener">Uniswap</a>, and the CoinMarketCap website indicates that the token is not verified. 
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 Source: CoinMarketCap
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Due to the ambiguity of the transaction, X users commented on the Lookonchain post and suggested that a developer or another DZHV insider could be behind the unknown trader. 
At the same time, cases of traders getting rich on little-known tokens are increasingly attracting the attention of analysts. Last week, another unknown trader made a 1,280x profit, taking advantage of the hype around the announcement of <a href="https://crypto.news/tag/OpenAI/" target="_blank" rel="noreferrer noopener">OpenAI</a>‘s generative neural network for video, Sora. The trader <a href="https://crypto.news/trader-made-1280x-profit-on-sora-token/" target="_blank" rel="noreferrer noopener">earned</a> $176,000 by investing only $137. 
 You might also like: <a href="https://crypto.news/memecoin-craze-sees-one-trader-reap-over-100k-in-profits-on-newly-listed-defrog/"> Memecoin craze sees one trader reap over 100k in profits on newly listed DEFROG </a>

DizzyHavoc token earns trader $225k on no trading volume

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