Key Notes
- The supposed memecoin “sniper” has already realized $210,000 in profits one day after a $285 purchase of ZReaL.
- Four flagged Solana wallets still hold $417,000 worth of the memecoin by Lookonchain’s posting time.
- Meanwhile, the NYSE joined the Nasdaq in planning to offer tokenized securities trading on regulated platforms, contrasting with PumpFun launches.
An anonymous cryptocurrency trader has turned a $285 purchase into $627,000 in a single day, onchain data shows. However, the activity has raised insider trading suspicions among analysts considering the timing and patterns usually seen in these plays.
Lookonchain originally reported the activity on X on Jan. 19, flagging four wallets as belonging to the same “insider” of the recently launched pump.fun memecoin ZReaL. According to the analyses, this “insider” spent $285 to buy 66.3 million of ZREAL, then sold 30% (19.98 million) for $210,000 of realized profits.
The four accounts were still holding 46.3 million ZREAL by Lookonchain’s posting time, worth $417,000 of unrealized gains. Flagged addresses are: AG2GXkD6ajUtmJVYuxSLTJEskdZK1UVRS4dpYy5iphqk, E3YwAXRJ8Nn8MPGNF4JqsK8y9jpLMp9ibw575Dx8UHFw, 5em8LfzZatMokQQLqH8rBsRw4nrk3ByAYBa3enb51nXf, and ZFHvjGsD39AzjFf1yqP1xaZefY6RX7TaVrsh2wW5xAF.
An insider wallet, AG2GXk, turned $285 into $627K on $ZReaL — a 2,200× return.
Wallet AG2GXk spent only $285 to buy 66.3M $ZReaL, then sold 19.98M $ZReaL for $210K across four wallets, and still holds 46.3M $ZReaL($417K).https://t.co/P755GHZMXzhttps://t.co/xPj98WHrET… pic.twitter.com/dQtXBfwa4v
— Lookonchain (@lookonchain) January 19, 2026
Insider Trading and Sniping in Crypto Memecoins
A CoinDesk report earlier today described the practice as “sniping,” considered a popular form of insider trading in launching memecoins, especially on platforms like PumpFun.
“Memecoin insiders, typically called snipers, are often told about a project before it goes live. This allows them to get in early via a bot before the wider public, then sell on exchanges when prices rise to make quick profits,” CoinDesk’s article explained. “Sniping became mainstream news in early 2025 when Hayden Davis revealed all on a podcast with Coffezilla, claiming that he was involved in the issuance of several high-profile memecoins, including MELANIA and LIBRA.”
Pumpfun facilitates this behavior by design and helps to attract buyers into the recently launched—and often sniped—memecoins. This increases the risks some experts describe as “The Greatest Fool Theory,” when speculators buy assets they do not value enough to hold for the long term, with the expectation that a “greater fool” will be willing to pay a bigger price than they did. However, unless the speculator is an insider trader or a sniper, each purchase of an already launched memecoin risks this person being the “greatest fool” themselves if the amount of potential buyers dries out as things develop.
On the other hand, institutional players from traditional finance (TradFi) continue to make valuable moves into crypto and blockchain. While Pumpfun specializes in trading sniped memecoins on Solana, the New York Stock Exchange (NYSE) unveiled it has been developing a trading platform for tokenized securities, Coinspeaker reported. Nasdaq, another United States stock exchange was already making moves into tokenization, per 2025 reports.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vini Barbosa has covered the crypto industry professionally since 2020, summing up to over 10,000 hours of research, writing, and editing related content for media outlets and key industry players. Vini is an active commentator and a heavy user of the technology, truly believing in its revolutionary potential. Topics of interest include blockchain, open-source software, decentralized finance, and real-world utility.