Meme coins have been one of the hottest sectors in the entire virtual currency market over the past year. Whether it is the old Meme coin Dogecoin or the new Meme coins Shiba Inu and Pepe, they have brought huge profits to their supporters. Driven by this huge wealth effect, countless Meme coins are born every day, bringing new hopes of getting rich to investors.
Source: Coinmarketcap
In recent weeks, as the US presidential election campaign intensifies, politically related meme coins have become the most eye-catching area in this field. Both TRAMP and FIGHT have set incredible growth records in a short period of time.
On July 17, 2024, FEARNOT (0x6135177a17e02658df99a07a2841464deb5b8589) became the latest Meme coin rising star. Let’s take a look at how the creator of this token created a Meme coin in just one hour and earned more than 100% in profits.
Source: Dextools
The FEAR NOT Meme comes from Trump’s response after the shooting on July 13, “We will fear not.” Soon FEAR NOT began to spread as a Meme on the Internet.
Source: Twitter
Starting at 18:00 UTC on July 15, the creator of the FEARNOT token, 0x6515AAd84d28B611959136Ca37ED604c3FA9e21A, withdrew 2 ETH from the Binance exchange, mainly for subsequent transaction fees and to add liquidity to the fund pool.
Within an hour, he created the FEARNOT token contract, set up the FEARNOT-WETH pool on Uniswap, and added liquidity to it.
Source: Etherscan
Through the token transaction records, we can see that he has issued a total of 420.69 billion FEARNOT tokens, of which 294.483 billion were added to the funding pool as liquidity.
As for the remaining 126.207 billion coins, he sold them in multiple installments within the next hour as other buyers came in.
Source: Etherscan
Two hours later, he gave up ownership of the FEARNOT tokens, transferred the LP tokens that had previously added liquidity to the fund pool to the black hole address for destruction, and transferred out the proceeds of 4.17 ETH, completing this series of operations.
Source: Etherscan
A profit of 108.5% in two hours may be the reason why so many people are paying attention to social hot spots and frantically creating Meme coins.
Author: Auguste from search.ichainfo.com
