A cryptocurrency trader operating under the alias BiozYn reportedly netted a profit of $11.7 million after offloading significant holdings in three meme coins — $LAUNCHCOIN, $Fartcoin, and $ZEREBRO — within a four-hour window on Tuesday, according to blockchain analytics firm Lookonchain.
The sell-off, which occurred on May 27, included $6 million from $Fartcoin, $3.3 million from $ZEREBRO, and $1.8 million from $LAUNCHCOIN. Lookonchain posted screenshots of the transactions on X (formerly Twitter) at 05:51 UTC, displaying wallet activity and profit breakdowns that corroborated the scale of the trades.
Meme coins, a class of crypto assets often derived from internet memes and pop culture references, have gained notoriety for their speculative volatility. A 2024 report by BlockApps Inc. described them as “hyper-reactive to social media sentiment” and “extremely sensitive to liquidity shocks” — characteristics amplified by whale traders like BiozYn.
Market watchers say the timing and size of BiozYn’s exit could pressure prices across the meme coin segment. According to source that sudden, large-scale profit-taking typically signals short-term bearish momentum, especially for illiquid assets. The site added that $Fartcoin’s Relative Strength Index (RSI) was measured at 35 as of 8:00 a.m. UTC on May 27, approaching oversold territory and suggesting potential volatility ahead.
Despite this, $Fartcoin posted a 12.7% gain over the past week, outpacing the broader crypto market’s 2.8% growth, according to CoinGecko. Still, predictive analytics from CoinCodex forecast an average price of $0.773235 for $Fartcoin in May — hinting at a potential cooldown.
Reactions to the trades on X were swift. One user, @Matan_Tea, suggested BiozYn may have had “insider” knowledge, though no evidence has emerged to support the claim. Another user, @CallMeQadr, pointed out that BiozYn appeared to be investing in $BAKED, a token native to the Solana blockchain, sparking speculation about his next move.
The broader macroeconomic backdrop could also be fueling speculative activity. The NASDAQ Composite Index rose 0.6% to 16,900 on May 26, a signal of renewed risk appetite among institutional investors. Analysts speculate that capital rotation from equities into high-risk digital assets may be contributing to the increased volatility in meme coin markets.
Despite the gains, experts urge caution, warned that investors should perform due diligence, review project whitepapers, and assess community engagement metrics before entering such trades, particularly in an environment rife with “rug pulls” — where developers abandon projects post-funding.
Investors are advised to monitor support levels at $0.0020 for $Fartcoin and $0.0015 for $LAUNCHCOIN as potential reentry zones. Whether BiozYn’s next moves ignite further rallies remains to be seen. For now, the trade stands as a stark reminder of the meme coin market’s potential for massive profits — and steep risks.
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