An unknown trader pocketed nearly half a million dollars in profit

The savvy trader made an over 1,500-fold return on his initial investment, turning it into over $482,000 in less than 24 hours on the Bubb (BUBB) memecoin.

An unknown trader has reportedly made a nearly 1,500-fold profit on a newly launched memecoin shortly before the token lost half its value, fueling insider trading allegations amid a recent wave of memecoin collapses.

According to data from blockchain analytics firm Lookonchain, the trader bought 43.94 million Bubb (BUBB) tokens at an average price of 0.007

A new memecoin launched by an unknown trader has seen its price drop by more than 50% in less than 24 hours, sparking allegations of insider trading.

The Bubb (BUBB) token began receiving significant investor attention on March 20, after Binance co-founder and chief customer service officer Yi He commented on one of the token’s posts—a move that was interpreted by traders as a sign of a potential token listing on the world’s largest exchange.

However, the token’s price dropped sharply after 10:00 pm UTC on March 21, coinciding with the trader selling 28.9M BUBB for 122 ETH (about $360,000) at 0.0422, leaving 15.64M BUBB (about $360,000).

The Bubb token started its journey with a $304 initial investment, which ultimately yielded over $482,000 in less than 24 hours.

“Turned $304 into $482K on $BUBB. This trader spent only $304 to buy 43.94M $BUBB and sold 28.9M $BUBB for $122K, leaving 15.64M $BUBB($360K). Unbelievable 1,586x return!” Lookonchain shared on X.

The stellar trade comes a week after Hayden Davies’ Wolf of Wall Street-inspired memecoin crashed 99%, showing signs of significant insider activity ahead of the token’s collapse.

Davis launched the Wolf (WOLF) memecoin on March 8, banking on rumors of Jordan Belfort, known as the Wolf of Wall Street, launching his own token.

The token reached a peak $42 million market cap. However, 82% of the WOLF token’s supply was bundled under the same entity, according to a March 15 X post by Bubblemaps.

Davies’ latest token launch comes weeks after the Libra token’s collapse, where eight insider wallets cashed out $107 million in liquidity, leading to a $4 billion market cap wipeout within hours.

The Libra token turned into a political issue, with Argentine President Javier Milei risking impeachment after his endorsement of the Libra coin.