📣 Trader Earns 120x Profit on Meme Coin VOID
posted 5 Dec 2024
A second meme coin, launched by Sotheby’s Vice President Michael Bouhanna, earned a trader 120 times their investment. In just 30 minutes, the user pocketed over $1 million.
A trader purchased 462 million VOID tokens for 35 SOL (approximately $8,200), representing 44% of the total token supply. Within 30 minutes, the trader sold 439 million VOID tokens for 4,604 SOL, realizing a profit exceeding $1 million.
On December 4, Michael Bouhanna teased the launch of a new art-inspired meme coin on X. Shortly after, a wallet associated with Bouhanna issued the token called Nothing (VOID), sparking widespread community interest.
A trader purchased 462 million VOID tokens for 35 SOL (approximately $8,200), representing 44% of the total token supply. Within 30 minutes, the trader sold 439 million VOID tokens for 4,604 SOL, realizing a profit exceeding $1 million.
Michael Bouhanna previously launched the meme coin Comedian (BAN), inspired by the iconic $6 million banana artwork, later acquired by Tron founder Justin Sun.
The project stirred controversy, with Bouhanna facing allegations of insider trading involving BAN. Analysts at Lookonchain claimed that Bouhanna earned $1 million from trading BAN using an insider wallet. They also highlighted that he actively purchased other meme coins with minimal profit, which they speculated may have motivated him to develop his own project.
Bouhanna denied the accusations, stating that the wallet in question did not belong to him and that most of the cited earnings were unrealized gains. He further clarified that the token was merely a personal hobby and not connected to his role at Sotheby’s.
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