On January 21, GMGN founder Haze invested $869.50 in the meme coin during its initial public offering (IPO) phase, at a market capitalization of $45,000, acquiring approximately 1.92% of the tokens. Subsequently, the meme coin's price surged, reaching a peak market capitalization of $27 million, and Haze's unrealized profit once reached $520,000.
However, possibly influenced by He Yi deleted tweet, the market panicked and sold off Meme coin. Haze also sold all his holdings during this period, with an average selling price of $3.83 million, realizing a profit of $72,900. It is worth noting that the token subsequently rebounded, and as of press time, its market value was $12.35 million.
