OMG how retarded people are???
This shitcoin has a higher MC as Hive.
Think about it.
NO use case, only 9820 holders and the creator ( Tech lead) 100% pre-mine.
He doesn't invest a penny. He holds 100% and added at 1$ liquidity to it. 0 Risk.
Marketing is KING.
Ok, let's start:
First, this was my first post on the topic. Here is an explanation of how it works and how he extracts Millions out of it.
1,3 Million in 3 days. The method he uses is Uniswap V3 Remove and add liquidity.
@urun/techleads-mm-coin-rug-3-days-13-milliondollar
Here the explainer video again:
OK look at this chart:
This Bullshit Token starts at 1$. The creator extract and dump the Uniswap V3 method the Tokens on the buyers. There is no roadmap. No development. Nothing. It is a shitty Erc20 Token.
As you can see here. Million Token has only 9820 Holders. That's all. It has a market cap of 182 Million USD. It is Insane. And remember, it is more than the total market cap of Hive.
Besides the liquidity he added, He still holds 9%. I think on uniswap should be around 20%-40% too in the pool.
So he dumps already a big part in price steps.
it works like this: On Uniswap V3 he can add ranges on liquidity.
So if he adds:
10000 Tokens at 5$,
10000 Tokens at 10$,
10000 Tokens at 15$,
and so on, it works like a limit order. Not exactly but close to it. At some point, he holds only the counterpart. Not the Token anymore. In this case the stablecoin. Then he removes liquidity and lets it stay in the token. So nobody can track, without forensic work how much he made. At some point someone will do the work, I'm sure :).
Result:
10k at 5$ = 50k$ Profit
10k at 10$ = 100k$ Profit
10k at 15$ = 150k$ Profit
So he sells not in 10k steps :) easy to track on the holder addresses. These coins found already a new home. Techlead makes millions out of it. It is so crazy and unbelievable.
In the first 3 days of the Million Token, he made 1,3 million USD profit.
Here is how it looks like. Every Uniswap V3 is technical a sell :)
IMO this let crypto looks like a big scam. Pump and dump. No utility. And retards that buy bullshit coins with real money.
It shows 2 things. The first hype makes cash and the second decentralization, use case, and community doesn't matter in terms of price and greed.
In a long run maybe, but as long people earn millions with scams and promise the fast cash, löegit projects will not become the attention they deserve.