In recent years, the world of cryptocurrency has seen a surge in popularity, with new coins and tokens being created every day. One such coin that has recently made headlines is the Memecoin, which was created by an NFT collector and sold in a presale that has been labeled as “sketchy” by many in the industry.
The presale of the Memecoin took place in early August, with the creator selling 10% of the total supply of the coin for a total of $1.5 million. However, just a few days later, the price of the coin skyrocketed, resulting in a profit of over $7 million for the creator.
Many in the cryptocurrency community have raised concerns about the presale, with some calling it a “pump and dump” scheme. This is because the creator of the coin had a large following on social media and was able to generate hype around the presale, leading many investors to buy in at a high price.
Additionally, there are concerns about the legitimacy of the Memecoin itself. While the creator claims that it is a legitimate cryptocurrency with real-world use cases, many experts in the industry have questioned its value and potential for long-term success.
Despite these concerns, the creator of the Memecoin has defended the presale and the coin itself, stating that it was a legitimate investment opportunity for those who participated. However, many investors who bought into the presale are now left with a coin that has lost much of its value, leading to accusations of fraud and deception.
The situation surrounding the Memecoin presale serves as a cautionary tale for those looking to invest in cryptocurrency. While there are certainly legitimate investment opportunities in the industry, it is important to do your research and be wary of any schemes or scams that may be lurking.
In conclusion, the sketchy presale of Memecoin created by an NFT collector has resulted in a significant profit for the creator, but has also raised concerns about the legitimacy of the coin and the presale itself. As with any investment opportunity, it is important to do your due diligence and be cautious before investing your hard-earned money.
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- Source: https://zephyrnet.com/nft-collector-turned-memecoin-creator-nets-7m-in-sketchy-presale/