Coq Inu Price Surge Makes One Lucky Trader $2 Million From A $450 Investment

The skyrocketing Coq Inu price has made one lucky investor a millionaire after his $454 punt on the new COQ token earned $2 million, Lookonchain said.

The token, which is up 32% today and almost 1,000% in a week, was launched on Dec. 8 and already has a market cap of $259 million.

The lucky trader, who remains anonymous, started buying COQ shortly after its launch, and added more tokens over subsequent days via multiple addresses to eventually amass a total of 883.67 billion COQ.

The investor has sold about $1.5 million of the tokens and still holds some $700,000, Lookonchain data shows.

The ”About” information provided by CoinMarketCap says COQ is the number one meme coin on AVAX and was ”founded by well respected members of the community” who took no distribution and “put the entire supply of the coin with 150 avax in initial liquidity.“

It adds that the contract has been fully renounced and liquidity burned.

Coq Inu Developers Say Token Is For Entertainment Only

The Coq Inu developers don’t pretend that the token has any utility.

“$COQ is a meme coin with no intrinsic value or expectation of financial return,” they say on its website. “There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”

Coq Inu chart. Source GeckoTerminal.com

COQ chart. Source GeckoTerminal.com

They also say Coq Inu is “the meme coin of the chad chain” and that it was born of ”collective frenship, deeply rooted in memetics and humor.”

Related News

  • Best & New Meme Coins On CoinMarketCap, Uniswap, PancakeSwap To Watch December 20 – IDO & ICO Calendar
  • Top 3 Altcoins to Consider Buying Ahead of Potential FOMO Surge

Comments

Post a Comment

Popular posts from this blog

Tron rising as Rebel Satoshi’s Early Bird presale phase sells out

Rebel Satoshi presale ongoing.  Supporters bullish on RBLZ  TRON could soar to $0.2 in 2024. Tron (TRX) is on a tear, but some analysts are still skeptical. Amid this, Rebel Satoshi (RBLZ), a new crypto project, has caught the attention of investors. Rebel Satoshi draws investors Rebel Satoshi has been attracting investors with its unique blend of a meme coin and a movement focused on reshaping the crypto landscape.  As investors seek alternatives to underperforming assets, they are drawn to Rebel Satoshi’s narrative and Features . At the heart of Rebel Satoshi lies RBLZ, a governance and membership token. You might also like: Analysts focus on Rebel Satoshi, Shiba Inu, and Zcash ahead of crypto bull run Holding RBLZ grants a stake in the movement and provides access to quests, rewards, and a community dedicated to shaping a fully decentralized crypto future. The early stages of Rebel Satoshi’s public presale have seen over 10 million tokens sold within just 48 ho
Read more

Rebase Tokens: What Are They & How Do They Work?

Image
If you're interested in cryptocurrency, you've probably noticed that the price of many digital assets can be highly volatile. This can make it challenging to use cryptocurrency as a means of exchange or as a store of value. Rebase tokens, also known as elastic tokens, seek to offer a solution to this problem.  In this article, we'll explore what rebase tokens are, how they work, and whether or not they might be a good investment for you.  What Are Rebase/Elastic Tokens? Rebase tokens are a type of cryptocurrency that adjusts their supply to maintain price stability. This is in contrast to traditional cryptocurrencies, which have a fixed supply determined at the time of their creation. Rebase tokens achieve price stability through a process known as a "rebase," which is triggered at regular intervals (e.g., every 24 hours). During a rebase, the supply of the token is adjusted based on a predetermined formula.  For example, if the demand for a re
Read more

Lloyds Bank issues urgent warning of crypto scams in the UK

Image
A recent press release issued by Britain’s Lloyds Bank shares that crypto scams that have surged 23% over the course of the year. Young investors between the ages of 25 and 34 years old are said to be the most prevalent target for these attacks. Social media home base The press release goes on to report victims of crypto investment scams are facing an average loss of £10,741, marking an increase from the previous year’s £7,010.  Additional data goes on to state that 66% of all investment scams originate on social media platforms, with Instagram and Facebook emerging as the primary sources. You might also like: Kraken helps UK police in recovering $2m in stolen crypto Crypto investors were then said to make an average of three payments before realizing they were involved in a scam, meaning that it would often take 100 days from the date of the first transaction before a report was issued to the bank. Unfortunately, by the time it was, Lloyds shares that the money is ty
Read more