New wallet earns $220,000 in 6 days, hidden sniper risks behind the meme coin craze

A wallet created just a week ago withdrew over $3.3 million worth of funds from Cobo, then invested $323,000 into the meme coin “I’m Coming” () over 6 days, currently showing a floating profit of $226,000. This 70% short-term return looks attractive, but it reflects the current hype and speculative atmosphere in the meme coin market, along with the associated risks.

Fund Flow and Investment Strategy

According to Lookonchain monitoring data, the fund flow of this new wallet is quite clear:

• Withdrawn 700 ETH from Cobo (about $2.36 million)
• Withdrawn 2 million USDT
• Withdrawn 1,000 BNB (about $943,000)
• Total funds exceeding $3.3 million

Subsequently, the wallet began concentrated investments, spending a total of $323,000 to buy 15.4 million “I’m Coming” tokens within 6 days. Based on the current floating profit of $226,000, the return on this investment is approximately 70%.

In terms of scale, this wallet used only about 10% of the total withdrawn funds for this investment, indicating that the operator might be testing or diversifying risk. The fact that the position was built and profit realized within 6 days is not uncommon in the meme coin market.

Meme Coin Boom and Market Status

This case is not isolated. According to the latest market data, the meme coin market is currently active. Reports show that Pump.fun platform recently hit a record of $1.2 billion in daily trading volume, reflecting the hot trading activity in meme coins.

However, what is more concerning is that there are obvious signs of manipulation behind this boom. On-chain analysis shows that a trader invested $285 in the meme coin “zreal” and earned $627,000, but the on-chain data indicates that this wallet sent out hundreds of sell orders within 10 hours. This high-frequency trading pattern often suggests that insiders buy early and then use retail investors to offload, a “sniping” tactic.

Comparison with Other Whale Transactions

Current on-chain transactions show diversified strategies:

These comparisons clearly indicate that the current market is in a high-risk, highly volatile state. The coexistence of short-term gains and long-term losses shows that market participants have vastly different strategies and risk appetites.

Key Risk Warnings

While the 70% short-term return of the new wallet looks impressive, several issues should be noted:

• The meme coin market exhibits obvious sniping trading and insider manipulation
• High short-term returns often imply high risk and volatility
• Large funds entering new wallets could become targets for sniping
• The current market is highly speculative, and sentiment can reverse easily

Summary

This new wallet case reflects two realities of the current crypto market: first, the meme coin market attracts large funds due to trading enthusiasm; second, it is also rife with sniping and manipulation. The 70% short-term return is tempting, but the risks behind it are equally significant.

On-chain data shows that the market is in a highly speculative phase, with large funds and retail investors seeking quick profits. However, historical experience suggests that such phases are also the most risky. For ordinary investors, the key is to understand the logic behind these trades rather than blindly follow the trend.