Apecoin Insider Turns $174K Into $2.45M in One Day With 14x Trade on Both Sides of 80% Surge An anonymous wallet with no prior trading history executed a leveraged trade on Apecoin, converting $174,000 worth of ether into $2.45 million in a single day. The wallet, identified as 0x0b8a, was flagged by onchain analytics firm Lookonchain for its zero transaction history and precise timing, raising suspicions of insider activity. The sequence of events began with the wallet selling ether worth $174,000 on the decentralized exchange Hyperliquid. It then opened a 5x leveraged long position across 9.19 million APE tokens. Apecoin surged more than 80% shortly after, allowing the trader to close the long position near the peak for a $1.79 million profit. The trader immediately opened a short position and extracted an additional $488,000 as momentum faded. The total gain amounted to $2.27 million, representing a 14x return on the initial capital. Lookonchain highlighted the wallet’s lack of prior activity as a key indicator of a purpose-built trading setup. The firm noted that the wallet’s near-perfect entry and exit timing, combined with its immediate reversal, aligns with patterns seen in informed trading strategies. The trade’s execution coincided with a major corporate announcement from Yuga Labs, the company behind the Bored Ape Yacht Club and Otherside metaverse projects. Yuga Labs disclosed the appointment of Michael Figge as its new chief executive officer, replacing Greg Solano, who became chairman of the board. The surge in Apecoin’s value was driven by the strategic move to appoint Figge, a former executive at the gaming and entertainment company Activision Blizzard. The announcement was seen as a signal of renewed focus on the Otherside metaverse project, which has been a key driver of the token’s value.#hyperliquid #apecoin #lookonchain #yuga_labs #michael_figge
