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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

This Trader Has Over $10 Million Of PEPE And LADYS, But Can’t Sell

Dalmas Ngetich
Dalmas Ngetich
2 years ago
2 mins read
PEPE LADYS

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As PEPE prices recover after a 76% slump from May 2023 peaks, a trader holding over $10 million worth of Pepe Coin (PEPE) and Milady Meme Coin (LADYS) meme tokens can, reportedly, not sell as both projects have blacklisted his addresses.

Striking Gold On PEPE And LADYS

Data from Scope Protocol, an analytics platform, shows that the anonymous trader was among the earliest buyers of PEPE and LADYS meme tokens.

 

Imagine you are profit $10M but can't sell.

0xaf23 is blacklisted by both $PEPE & $LADYS because bought too early.

he bought 2.52T $PEPE with 0.013 ETH, now these $PEPE worth ~$4.6M

he also bought 290T $LADYS (33% of all) and holds 71T now (~4.9M).https://t.co/XzsxRdAMCY pic.twitter.com/7rWZnw6oMQ

— 0xScope (@ScopeProtocol) May 11, 2023

The two meme projects have experienced a tremendous surge, catapulting early holders into the realm of millionaires.

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PEPE Attempts Market Rebound, Surges By 28% In 24 Hours

1 year ago

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

The trader also bought 290 trillion LADY tokens, or about 33% of the total supply.

As of May 11, the blacklisted address held roughly 71 trillion LADY worth over $4.9 million.

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

Unconfirmed rumors have it that the trader is associated with a maximal extractable value (MEV) bot.

Despite this setback, the inability of the trader to sell their PEPE and LADYS tokens could support prices considering the amount held by the trader. A block sell could adversely impact liquidity.

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

MEV Bots Raise Concerns

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

The blacklisting of the trader’s addresses suspected of being MEV bots coincides with PEPE and LADYS spike in trading activity on Ethereum.

An example is a notorious MEV bot named Jaredfromsubway.eth that’s sandwiching meme token traders for profit. Because of the number of trading done amid the meme token craze, the bot is one of the biggest contributors of the high fees in Ethereum.

As trading volumes of meme tokens rise, more bots will likely be deployed to profit from this popularity.

Already, CoinMarketCap data on May 14 shows that PEPE’s average daily volumes stood at over $520 million which is almost the same as its market cap at $721 million. Meanwhile, LADYS daily volumes reached $74 million as its total market cap rose 30% to $80 million.

There were also signs of suspicious activities and addresses in the LADY token ecosystem which previously raised some concerns.

Nine addresses transferred 26 trillion LADYS, equivalent to $3.7 million, to exchanges. Earlier, these addresses received ETH from KuCoin simultaneously before buying LADYS.

If you notice these suspicious addresses, then you can predict the drop of $LADYS in advance.

9 addresses transferred a total of 26T $LADYS ($3.7M) to exchanges.

Is it a coincidence that the price of $LADYS drops after each transfer?https://t.co/isFU2u9zVK pic.twitter.com/uoa8tBFWUA

— Lookonchain (@lookonchain) May 12, 2023

Furthermore, they transferred all of their holdings to new addresses. Interestingly, each transfer coincides with a drop in the price of LADYS.

Users were advised to watch these whale accounts as their activities could impact prices.

If you bought $LADYS, you should pay attention to these 42 suspicious addresses.

They hold 205T $LADYS ($19M), 23% of the total supply.

They all received $ETH from #KuCoin at the same time and bought $LADYS.

And also transferred all $LADYS to new addresses 10 hrs ago. pic.twitter.com/EftRtfRZD7

— Lookonchain (@lookonchain) May 11, 2023

Related Reading

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Is Pepe Coin Ready For Another Pump? Here’s What On-Chain Data Says

1 year ago
-Featured image from Canva, Chart from TradingView
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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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