Trader Makes $225k From Sudden Spike in DZHV Token

Last updated: February 29, 2024 12:41 PM

Published 2024-02-29

Last updated: February 29, 2024 12:41 PM

Published 2024-02-29

An unknown trader made a large profit of around $225,700 in just a couple days by trading an obscure token called DizzyHavoc (DZHV).

According to Lookonchain, the trader bought 6.47 million DZHV for 0.2 ETH on February 26th and then sold it for 69.8 ETH just two days later after the price spiked 82%.

In just 2 days, this trader made 69.6 $ETH($225.7K) with only 0.2 $ETH($635).

He spent 0.2 $ETH($635) to buy 6.47M $DZHV on Feb 26 and sold it for 69.8 $ETH($226.4K).$DZHV was launched on Jan 29 but has seen almost no trading volume.

Coincidentally, right after this trader… pic.twitter.com/fJUto8MZZm
— Lookonchain (@lookonchain) February 28, 2024

DZHV was only launched in late January and had very little trading volume until this trader’s transactions. This has raised suspicions among analysts that the trader could be an insider with advanced knowledge.

Cases like this of huge profits from unknown tokens are increasingly gaining attention. Just last week, another trader made $176,000 from a $137 investment in a new token linked to an OpenAI announcement.

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Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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