Previously, there was an Indonesian boy's NFT worth 0.3 ETH, and later, a young developer sold a Memecoin $Quant for $3.38 million. The crypto world has never lacked fantastical stories🔮
We have compiled the background and consequences of this event, and the relevant information is as follows:
- 🔸 The complete story of the issuance and takeoff of $Quant;
- 🔹 The developer address and current status of the young developer;
- 🔸 The main driving addresses behind the subsequent surge of $Quant.
1. Complete story line
1️⃣ The young trader released a Memecoin called "$Quant" 4 hours ago, purchasing 51.09 million tokens at a cost of 1.5 SOL, accounting for 5.11% of the total token supply.
2️⃣ As the token price rose, he sold all his holdings in a live stream, earning 128 SOL (about $30,000), and flipped off the audience.
3️⃣ This action angered the community, and $Quant subsequently underwent a CTO (Coin Turn Over, where token holders are replaced), with its market capitalization once exceeding $77 million.
4️⃣ Netizens investigated and obtained the young developer's real identity, and created Memecoins for his family members.
Source: https://x.com/AltcoinGordon/status/1859140807296454840
2. Dev address and current status
- When the young developer sold 51.09 million tokens, his return rate was as high as 8457%. This portion of tokens is currently worth $3.35 million (if not sold, the market value growth may not have reached this level), missing out on nearly 10,000 times the return.
- After tasting the sweetness, he issued two more tokens, $sorry and $lucy, using similar operations, and made a profit of over $24,000 again.
- His developer wallet address is: https://solscan.io/account/Fi2hrxExy6TJnKcbPtQpo6iZzX9SUVbB9mDw6d29NgCn#transfers
3. The main driving addresses behind the subsequent surge
- Currently, the TOP2, TOP3, TOP4, TOP6, and TOP10 holding addresses of $Quant are the main forces driving the token's surge (the TOP1 address is not the case, as its holdings come from the internal pool stage).
- After the young developer maliciously sold the tokens at 11:56, these five addresses collectively spent $56,400 to repurchase 4.7% of the total token supply within 7 minutes, successfully stabilizing the price. The total gains of these addresses have now exceeded $2.92 million.
4. The five driving addresses are as follows:
- J433tnmDFbCrXwcVcmdiFKAuSuPuB2LTMq2qcRDpSjKE
- CLegS2MSiCsBksVazCg4Y7Gz3NqeBK21QyvzK4Q7S168
- 2EkhJvG7eunHrecNsAijNx8aGcv2Kjd3schd12Gb5tmp
- 2mLso48BfjuZ4beMT3cP1ZSzm4BWjadfKYhMUUeEXoeT
- 9HQbw76L1NumMqh7su781go3ug9w8z7poSVoVWGDLLzx
5. In conclusion
This event has taught us the following:
- The young developer underestimated the crypto community's ability to control capital operations;
- Even if you are a child, malicious rug behavior will still trigger widespread condemnation across the network;
- Memecoins are the product of emotions and asset operations;
- On the http://Pump.fun platform, the cost and threshold for issuing tokens are really too low.
