Illuminating the alleged insider trade, this whale confesses to the 314M BOME buy for completely different reasons.
- Solana whale sparked controversy with 314M BOME purchase ahead of listing.
- Previously, Binance launched an insider trading investigation for Book Of Meme.
- The whale confesses on Twitter, explaining there were no fraudulent intentions.
- The ongoing memecoin season has shown its dark side a few weeks ago, when Book Of Meme (BOME) was listed on Binance, being almost instantly accused of insider trading. On March 15, 2024, a crypto whale was spotted to have withdrawn $2.3 million from Binance, later using these funds to acquire a whopping 314 million of BOME hours ahead of Binance’s listing.
Spotted by blockchain tracking agency LookOnChain, this transfer has immediately raised eyebrows, with many crypto traders pointing their fingers at Binance. In response, the crypto giant started an investigation with a huge bounty, offering from $100K to $5M in rewards for information in relation to insider trading.
While Binance’s ‘Rat House’ investigation returned no tangible results, these accusations are refuted by the crypto whale himself, as Solana’s prominent community member BazingaHappy.SOL confessed to the public on X.
The smart money who withdrew $2.3M from #Binance to buy 314M $BOME before #Binance listed $BOME just tweeted his story.
He is very bullish on $BOME and thinks it will be the next $SHIB.
And we just think he is smart to bet on $BOME accurately.
Just to clarify: we do not have… pic.twitter.com/UAShmpxVCq
— Lookonchain (@lookonchain) March 28, 2024
Since Book Of Meme’s (BOME) inception, the memecoin soared by a whopping 22,472% from an all-time low recorded at $0.00005848 on March 14, 2024. This parabolic bull run reached its peak on March 16, 2024 at $0.02689, as BOME slipped over 50% since the price milestone.
Binance Rat House Scandal Debunked: Whale Explains Purchase
The Solana whale in question acquired 314 million Book Of Meme (BOME) tokens at $0.0074 in half an hour in the afternoon on March 15, 2024. “Does He know something we don’t?”, – asked the on-chain sleuths at LookOnChain, inspiring Binance to start the ‘Rat House’ investigation a few days further.
A fresh wallet withdrew 12,721 $SOL($2.3M) from #Binance and bought 314M $BOME at $0.0074 in the past 30 mins.
Does He know something we don't?🤔https://t.co/cDrm9SOtOB pic.twitter.com/g6GbCbZb1L
— Lookonchain (@lookonchain) March 15, 2024
In response to that, BazingaHappy.SOL remarked that he believed in the token to have huge potential, alluding to the rise of Shiba Inu (SHIB) back in 2021. Listed on multiple exchanges in a brief moment, Shiba Inu’s growth back then is compared to BOME’s emergence now.
BazingaHappy.SOL explains: “I didn’t expect that after I bought it at around 10 o’clock that night, BOME would be on Binance the next morning.” On top of that, the Solana whale went as far as to say: “In my opinion, BOME is the leader of memecoins, and in the future it will surpass DOGE.” The trader finished his courageous post by pledging to contribute to BOME’s worldwide adoption.
