Crypto traders are paying through the roof to get in early on newly-issued meme coins and rack up a large percentage of the supply.
On-chain data shows a trader paid over 64 ether (ETH) in fees on Monday to get 84 ether worth of four (FOUR), a newly-issued meme token on the Ethereum blockchain likely based on the Crypto Twitter meme of “4.”
This means that the trader spent over $120,000 to get $156,000 worth of FOUR tokens. However, some sleuths pointed out that the trader was only the second entity to buy FOUR – and is now sitting on an unrealized profit of nearly $240,000.
