Originally published on: December 05, 2024
In a whirlwind of crypto trading, a vice president at Sotheby’s auction house unveiled a new Solana memecoin that allowed a trader to rake in a staggering $1 million within just 30 minutes.
The buzz began on December 4 when Michael Bouhanna teased the launch of an art-themed memecoin on his X account. Shortly after, a wallet linked to Bouhanna minted a fresh memecoin dubbed Nothing (VOID).
According to Lookonchain, a trader splurged 35 SolanaSOL, equivalent to around $8,200, to acquire a whopping 462 million VOID tokens, snagging 44% of the total supply. Moments later, the wallet swiftly sold 439 million tokens for a whopping 4,604 SOL, catapulting the trader’s earnings past the $1 million mark.
This is not Bouhanna’s first rodeo in the world of memecoins. Previously, he launched Comedian (BAN), inspired by the infamous $6 million banana artwork eventually nabbed by Tron founder Justin Sun. While Bouhanna’s initial memecoin venture raised eyebrows due to insider trading suspicions, he denies these allegations.
The Sotheby’s executive clarified that his memecoin ventures are personal hobbies, independent of his work at the prestigious auction house. In fact, he originally intended for BAN to remain anonymous to distance it from his professional identity. However, when the community caught wind of his involvement, speculations linking the token to Sotheby’s emerged without his consent.
Despite criticism from some corners of the crypto community, with accusations of “rugging people on memecoins,” Bouhanna remains undeterred in his memecoin pursuits. With controversies swirling, his memecoin ventures continue to make waves in the crypto landscape.
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