The Trader Who Becomes a Millionaire with These 2 Altcoins Cannot Sell!

While the crypto money market has been under the meme coin trend for a long time, an investor who owns 10 million dollars of altcoins PEPE and LADYS stated that he could not sell with the blacklisting of his addresses in both projects! Here are the details…

Investor with over 10 million dollars of altcoin investment cannot sell their assets!

As we reported as Kriptokoin.com, the rise of meme coin that has been going on since the past months has attracted the attention of many investors. Especially while the first investors made big profits, some investors faced problems. Data from Scope Protocol, an analytics platform, shows that the anonymous investor is among the first buyers of PEPE and LADYS meme coins.

The two meme projects have grown tremendously, putting their first owners among millionaires. Records show that the investor has purchased 2.52 trillion PEPE tokens for just 0.013 ETH. The investor’s assets reached $4.6 million. The expert also bought 290 trillion LADY tokens. As of May 11, there were approximately 71 trillion LADYs worth over $4.9 million at the blacklisted address.

However, with the addresses of the two projects blocked, the investor is unable to liquidate and profit. According to unconfirmed rumors, the investor is associated with a maximal extractable value (MEV) bot. Despite this setback, this trader’s inability to sell altcoins PEPE and LADYS could support prices given the amount he holds. However, a block sale can negatively affect liquidity. The increase in PEPE, although without any benefit, points to community greed and unwillingness to miss out due to FOMO.

MEV bots worry investors

Concerns about the impact of MEV bots on Ethereum’s security seem to have increased, especially as the memecoin craze continues as they could affect gas fees, push transactions forward and clog the network. The blacklisting of investor addresses suspected of being MEV bots coincided with an increase in PEPE and LADYS in transaction activity on Ethereum.

A notorious MEV bot named Jaredfromsubway.eth is trapping meme token traders for profit. Due to the number of transactions made amid the meme coin craze, the bot is one of the biggest contributors to the high fees on Ethereum. As the trading volumes of meme coins increase, more bots will likely be used to capitalize on this popularity.

Data from CoinMarketCap as of May 14 shows that PEPE’s average daily volume is over $520 million, nearly the same as its market cap of $721 million. Meanwhile, LADYS’ daily volume reached $74 million, while its total market cap rose 30 percent to $80 million.

On the other hand, there are also signs of suspicious activities and addresses in the LADYS ecosystem, which have raised some concerns before. Nine addresses have transferred 26 trillion altcoins LADYS to exchanges, equivalent to $3.7 million. Previously, these addresses had simultaneously bought ETH from KuCoin before purchasing LADYS.

They also transferred all their assets to new addresses. Interestingly, each transfer coincides with a drop in the price of LADYS. Users have been advised by experts to monitor these whale accounts as their activities may affect prices.