WallStreetBets

WSB Coin

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	<p>The WSB Coin, a token linked to the WallStreetBets community, has experienced a tumultuous journey as recent events have unfolded.</p>
<p>While early adopters saw significant profits, recent allegations of a rug pull by a project founder have marred the token&#8217;s reputation.</p>
<h2 id="quick-profits-by-early-wsb-trader">Quick profits by early WSB trader</h2>
<p>Initially, a leading blockchain analytics platform Lookonchain shared an intriguing account of a crypto trader who swiftly traded WallStreetBets ($WSB) tokens and made significant profits.</p>
<p>According to Lookonchain&#8217;s Twitter account, the trader discovered $WSB just six minutes after it was listed.</p>
<p>Initially, the trader bought 1.9 billion $WSB tokens for 6 <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">Ether</a> and sold 500 million $WSB tokens for 38 Ether just 15 minutes later. The trader then reinvested by purchasing 608 million $WSB tokens for 24 Ether, only to sell 613.4 million tokens for 123 Ether.</p>
<p>In total, the trader has made an impressive 131 Ether ($240,000) from these quick transactions, in just 2 days.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">1/ This guy missed <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$PEPE</a> but discovered <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a> 6 mins after <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a> was listed and bought <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a>.</p>
<p>He currently holds 1.4T <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a> ($476K) and is the 5th holder of <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a>.</p>
<p>And he has realized a profit of ~131 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$ETH</a> ($240K)!<a href="https://t.co/fyRkdBILf3" rel="nofollow" target="_blank">https://t.co/fyRkdBILf3</a> <a href="https://t.co/Uwa4xBkcSn" rel="nofollow" target="_blank">pic.twitter.com/Uwa4xBkcSn</a></p>
<p>&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1653759913217380352?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">May 3, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Currently, the trader still holds 1.4 trillion $WSB tokens ($476,000) as the crypto community watches to see how the token&#8217;s value develops. This trader&#8217;s experience has generated interest and speculation about the future of the $WSB token in the market.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">3/ This guy still has 1.4T <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a> ($476K) left.</p>
<p>Waiting for <a href="https://twitter.com/search?q=%24WSB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$WSB</a> to skyrocket and become a millionaire? <a href="https://t.co/KupHLK4cvT" rel="nofollow" target="_blank">pic.twitter.com/KupHLK4cvT</a></p>
<p>&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1653759920532262912?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">May 3, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>This story captured the attention of the crypto community and generated speculation about the future of the $WSB token.</p>
<h2 id="wsb-coin-8217-s-86-price-drop-raises-rug-pull-suspicions">WSB coin&#8217;s 86% price drop raises rug pull suspicions</h2>
<p>The narrative took a dark turn when the WSB Coin&#8217;s price plummeted by 86%.</p>
<figure id="attachment_21257" aria-describedby="caption-attachment-21257" style="width: 1858px" class="wp-caption alignnone"><img decoding="async" class="wp-image-21257 size-full" src="https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart.jpg" alt="WSB Coin to USD Chart" width="1858" height="800" srcset="https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart.jpg 1200w, https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart-300x129.jpg 300w, https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart-1024x441.jpg 1024w, https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart-768x331.jpg 768w, https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart-750x323.jpg 750w, https://crypto.ro/en/wp-content/uploads/2023/05/WSB-Coin-to-USD-Chart-1140x491.jpg 1140w" sizes="(max-width: 1858px) 100vw, 1858px" title="WSB token trader makes $240,000 in two days despite alleged rug pull 1"><figcaption id="caption-attachment-21257" class="wp-caption-text">WSB Coin to USD Chart | CoinMarketCap</figcaption></figure>
<p>Allegations surfaced that a project founder, ZJZ.eth, executed a rug pull by suddenly dumping a large portion of the WSB team supply for $635,000 (334 ETH). The event has generated significant concern within the crypto community.</p>
<p><a href="https://peckshield.com" rel="nofollow noopener" target="_blank">PeckShield</a>, a blockchain security company, and other analysts have reported on the token being dumped for ETH. The price drop followed the WSB Coin&#8217;s previous surge in value, where it had increased by about 320% in just one day, attracting numerous investors.</p>
<p>Recent Twitter activity from ZachXBT, a user with almost 350k followers, and <a href="https://twitter.com/3orovik/status/1653957855483920385" rel="nofollow noopener" target="_blank">WSBMod</a>, a former WallStreetBets subreddit moderator, further highlights the community&#8217;s concern over the alleged rug pull. WSBMod has threatened to file a police and FBI report if the founder, ZJZ.eth, does not get in touch with him.</p>
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
<p lang="en" dir="ltr">Another day another meme coin rug this time involving ZJZ.eth from <a href="https://twitter.com/WSBCoinOfficial?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@wsbcoinofficial</a> who suddenly dumped a large portion of the WSB team supply for $635k (334 ETH)</p>
<p>In Nov 2022 he messaged me </p>
<p>“I guess we should have been greedy amoral bastards instead <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f614.png" alt="😔" class="wp-smiley" style="height: 1em; max-height: 1em;" />” <a href="https://t.co/b9mfrZv0CD" rel="nofollow" target="_blank">pic.twitter.com/b9mfrZv0CD</a></p>
<p>&mdash; ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1653937194388664322?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">May 4, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>WSB Coin had promoted itself as the &#8220;official coin&#8221; of the WallStreetBets community, using its imagery and identity for marketing purposes. The project claimed to reserve 10% of the $WSB supply as a treasury for the r/wallstreetbets subreddit and 5% of the tokens for the current moderators of the subreddit.</p>

WSB token trader makes $240,000 in two days despite alleged rug pull

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