Insiders Made $1M, Outsider Lost $111K in 5 Minutes

TL;DR

• The cryptocurrency house, which typically reeks of degenerates, has struck once more. Previously few days, a meme coin named after the bishop of Rome and the chief of the Catholic Church has exploded in recognition.
• Previously a number of hours alone, a number of massive strikes made the CT information, with insiders allegedly dumping, whereas one investor misplaced over $110,000 in minutes.

With exchanges equivalent to GateIo and MEXC dashing so as to add the brand new meme coin sensation for buying and selling for his or her customers, it’s no surprise that the asset’s worth shot up by a number of thousand p.c in hours. In accordance with some reports, its market cap exceeded $300 million at one level earlier than it crashed.

It’s exhausting to confirm this information on impartial third-party information aggregators, equivalent to CoinGecko and CoinMarketCap, because it’s lacking at press time. CoinGecko even says it has eliminated the POPE coin from its platform.

The meme coin’s web site claims that 35% of the 1B max provide will go to the Catholic Church. 25% will probably be for creators and advertising, and solely 100 million will probably be for public distribution. It additionally asserts that it was created “in help of the Pope and the Catholic Church, with proceeds going to the church and its initiatives across the globe.”

“POPE was created to help a future Pope who champions cryptocurrency and decentralization-fostering empowerment, world affect, and religious connectivity,” the web site additionally reads.

Lastly, the slogan is “a meme coin so holy, it blesses each transaction.” Undecided how blessed was this transaction by a developer or an insider who remodeled $1 million in two hours by dumping tokens to the group.

The POPE insanity additionally resulted in a considerable loss for one dealer who determined to FOMO in. In accordance with Lookonchain, they misplaced $111,000 in slightly below 5 minutes.

Don’t FOMO commerce.

This man misplaced $111K on $POPE in below 5 minutes.

He spent 200K $USDC to #FOMO purchase $POPE, however proper after his buy, the worth dropped sharply.

In a panic, he offered for simply $89K—burning $111K in minutes.https://t.co/R27uhqIzA4 pic.twitter.com/TkYXH5bPPc

— Lookonchain (@lookonchain) May 3, 2025