BlockBeats News, on January 21st, GMGN founder Haze invested $869.5 at a $45,000 valuation during the meme coin “memes” presale, acquiring approximately 1.92% of the tokens. Subsequently, the meme coin saw a significant increase in value, reaching a peak valuation of $27 million, allowing Haze to realize a peak profit of up to $520,000.
However, possibly due to the impact of a deleted tweet, the market experienced panic selling of the meme coin, prompting Haze to sell his entire position at an average valuation of $3.83 million, realizing a profit of $72,900. It is worth noting that the token later rebounded, and at the time of writing, its valuation stands at $12.35 million.
