GMGN Founder FOMO Buys Nearly 2% of Supply, Fails to Sell at Peak, Misses Out on Nearly $450K Profit

BlockBeats News, January 21st, GMGN founder Haze invested $869.5 at a $45,000 market value during the meme coin "memes" presale phase, acquiring approximately 1.92% of the tokens. Subsequently, the meme coin surged, reaching a peak market value of $27 million, allowing Haze to realize a maximum profit of $520,000.

However, possibly due to the impact of a deletion tweet, the market panic-sold the meme coin, and Haze also sold his entire position during this period, with an average selling price at a $3.83 million market value, realizing a profit of $72,900. It is worth noting that the token later rebounded, and as of the time of writing, its market value stands at $12.35 million.