According to blockchain analytics platform Bubblemaps, the new Iggy Azalea memecoin Mother Iggy (MOTHER) has shown "significant insider activity", with an insider selling about 10% of the total supply of the token on May 29.
The insider, who had an account that started with "JEET", allegedly bought more than 109 million MOTHs over the counter, most of which were then dumped onto the market. Solscan data shows that JEET received 127.50 million MOTHs from the deployer's account. They then sent the funds to several other wallets, at least one of which sold 20 million MOTHs to the Raydium liquidity pool in multiple transactions.
Bubblemaps: There is insider trading activity in MOTHER tokens
2024-05-29 22:34:00
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