Trader has over $10M of PEPE AND LADYS but can’t sell

As PEPE prices recover after plunging 76% from May 2023 peaks, a trader with over $10 million worth of Pepe Coin (PEPE) and Milady Meme Coin (LADYS) meme tokens is reportedly unable to sell Maybe, because both projects have blacklisted his address.

Strike Gold at PEPE AND THE LADYS

Data from analytics platform Scope Protocol shows that the anonymous trader PEPE&LADYS was among the early buyers of the meme token.

Imagine you have $10M in profit, but you can’t sell.

0xaf23 is blacklisted by both $PEPE And $ladies Because bought too early.

he bought 2.52T $PEPE With 0.013 ETH, it is now $PEPE Price ~ $4.6M

He also bought the 290T $ladies (33% of all) and currently holds 71T (~4.9M). pic.twitter.com/7rWZnw6oMQ

– 0xScope (🪬. 🪬) (@ScopeProtocol) May 11, 2023

The two meme projects have experienced a tremendous boom, propelling early holders into the millionaire realm.

Records show that the trader acquired 2.52 trillion PEPE tokens for just 0.013 ETH. His stash grew to $4.6 million.

Traders also bought 290 trillion Lady Tokens, or about 33% of the total supply.

As of May 11, blacklisted addresses held approximately 71 trillion lei worth more than $4.9 million.

Nevertheless, with two projects blocking his addresses, the trader cannot liquidate and profit.

There are unconfirmed rumors that the trader is linked to a Maximum Extractable Value (MEV) bot.

Despite this setback, the inability of traders to sell their PEPE and LADYS tokens could support the price given the amount held by traders. A block sale can adversely affect liquidity.

The PEPE boom, though without any utility, points to the community’s greed and reluctance to miss out due to FOMO.

MEV bots raise concerns

Concerns have risen about the impact of MEV bots on Ethereum’s security and fairness, as they can affect gas fees, front-run transactions, and cause network congestion, especially as the meme token craze continues. .

The blacklisting of addresses of traders suspected of being MEV bots coincided with trading activity on Ethereum by PEPE and LADYS.

An example is an infamous MEV bot named Jaredfromsubway.eth Sandwiching meme token trader for profit Bots are one of the biggest contributors to high fees in Ethereum, due to the number of trades made amid the meme token craze.

As the trading volume of Mem Token increases, more bots are likely to be deployed to profit from this popularity.

Already, Coinmarketcap data on May 14 shows that PEPE had an average daily volume of over $520 million, which equates to a market cap of around $721 million. Meanwhile, Ladies Daily Volume reached The total market cap of $74 million grew by 30% to $80 million.

There were also signs of suspicious activity and addresses in the Lady Token ecosystem that previously raised some concerns.

Nine addresses transferred 26 trillion LDS, equivalent to $3.7 million, to the exchange. Previously, these addresses received ETH from KuCoin at the same time before purchasing LADYS.

If you look at these suspicious addresses, you can anticipate the decline of $ladies in advance.

9 addresses transferred total 26T $ladies for exchanges ($3.7M).

is it a coincidence that the price of $ladies drops after each transfer? pic.twitter.com/uoa8tBFWUA

— lookonchain (@lookonchain) 12 May 2023

Furthermore, he transferred all his holdings to the new address. Interestingly, each transfer coincided with a drop in LADYS price.

Users are advised to keep an eye on these whale accounts as their activities can affect prices.

if you bought $ladiesYou should pay attention to these 42 suspicious addresses.

they have 205T $ladies ($19M), 23% of the total supply.

they all received $ETH From #KuCoin bought at the same time $ladies,

and transferred all $ladies 10 hours ago at new addresses. pic.twitter.com/EftRtfRZD7

— lookonchain (@lookonchain) May 11, 2023