An anonymous source has reportedly made an astonishing profit by leveraging the $HULK cryptocurrency, turning an initial investment of 7.1 Solana tokens (worth about $1,200) into a whopping 5,753.6 Solana tokens in just three hours, totaling nearly $978,000.
The trader used four new wallet addresses to purchase a significant 19% of the total $HULK token supply, amounting to 190.2 million tokens. After acquiring these tokens, they sold them all, resulting in 5,760.7 Solana tokens. This large-scale transaction not only brought personal financial gain but also had a significant impact on the $HULK market.
Following this insider’s massive sell-off, the price of $HULK experienced a sharp decline of over 85%. This sudden drop in price highlights the volatile nature of cryptocurrency markets, where large transactions can cause abrupt and drastic price changes.
This event serves as a stark reminder of the risks involved in trading digital assets, as market sentiment can swiftly shift due to the actions of a few individuals.