A trader, known as a sniper, made $8.3 million in just 18 hours by trading $SHIRO tokens. This remarkable profit came after the Shiro Neko team announced the contract address. With nine crypto wallets, the sniper purchased 18 trillion $SHIRO for 41.48 $ETH, approximately $ 151,000. The big buy occurred immediately after the contract announcement as Lookonchain data analysis shows.
Sniper Sells $SHIRO for $8.44M After Big Buy
The sniper later sold 15.6 trillion $SHIRO for 2,319 $ETH, or 8.44 million dollars. The contract address for $SHIRO was announced on December 2, 2024, at 20:03 UTC. But one could see that many wallets had already purchased $SHIRO before this public statement. This means that insiders could have intimated information about the company’s performance before the general public.
Volatile $SHIRO Trade Raises Questions About Equity in Crypto
This incident demonstrates that the crypto market is fast and volatile at the same time. It also raises concerns about fairness and transparency. To most traders this type of trades can be a little difficult to counter especially to those who do not have privileged information.
Therefore, this case, reported by Lookonchain, may indicate the need to establish appropriate regulation in the trading of cryptocurrencies. If everybody had equal access to information then the market would be fair. Overall, such a sharp increase in $SHIRO and its sharp decline also characterize the crypto universe as a space of great opportunities and potentially huge losses.
