Solana memecoin ZCAT: wallet turns $12 into $13.8M profit, on-chain data suggests insiders
- —The wallet bought 108,900 ZCAT in two trades but sold 10.5 million across 38 transactions
- —About 99% of tokens sold were not recorded as purchases by the tracker
- —Top-10 ZCAT traders each booked millions of dollars in gains
- —ZCAT's market cap reached $170 million at around $0.174 per token
Why it matters: The pattern points to insider token distribution and manipulation of Dexscreener stats, raising risks for retail buyers of memecoins.
Source: Bithub