cryptoglobe.com
A cryptocurrency investor who managed to make a whopping $920,000 profit while betting on Iggy Azalea’s $MOTHER meme-inspired cryptocurrency is now betting on a new memecoin $RETARDIO.
The crypto investor’s movements were first spotted by a cryptocurrency analyst on the microblogging platform X (formerly known as Twitter), who noted that the investors has, over a 14-hour period, spent 7,686 SOL worth around $1.11 million to buy $RETARDIO by using the dollar-cost averaging (DCA) feature on the popular Solana-based decentralized trading platform Jupiter.
曾在 $MOTHER 上获利 92 万美金的聪明钱 F4Kpk…VHRkB 正在大手笔建仓 $RETARDIO，这次还能复刻之前的暴富故事吗👀
— Ai 姨 (@ai_9684xtpa) October 13, 2024
过去 14 小时他累计花费 7,686 SOL（111 万美金）通过 Jupiter DCA 买入 RETARDIO，目前已买进 70.8 万美金的代币，平均成本 $0.15，现已浮盈 7.3 万美金
钱包地址… https://t.co/a7f9gKx5U8 pic.twitter.com/8xxGz0PqLx
According to the analyst, the trader spent $708,000 to buy the tokens at an average price of $0.15 per token, and has kept on accumulating. Market data shows that while the cryptocurrency at one point over the past seven-day period hit $0.2, it’s currently trading at $0.158.
The $RETARDIO token is based off of an offensive term used in a now-deleted tweet from Polymarket, but it has since evolved into a meme embracing a rebellious and non-conformist ethos on individual empowerment.
It has seen significant community-driven growth and has its own non-fungible token (NFT) collection, the “Retardio Cousins.”The investor’s allocation is relevant given their past bet on Iggy Azalea’s Mother Iggy ($MOTHER) token.
Azalea actively promotes the MOTHER token on her social media channels, using her 8 million followers on X to create buzz and interest through engaging and provocative posts that have kept the community highly active and involved with the token, garnering significant attention and experiencing rapid price increases.
Azalea has integrated the MOTHER token with real-world applications. Specifically, she is relaunching her telecommunications company, allowing users to purchase mobile devices and monthly subscription plans using the MOTHER token or Solana (SOL). This integration aims to provide some practical use cases for the token, potentially boosting its value and appeal.
Featured image via Pixabay.