The wallet added over $1.04 million worth of Shroom coins during the same block when new liquidity was deployed.
An unknown trader made $8.9 million in profit in less than one hour by trading the Shroom (SHROOM) memecoin during the same block where developers added liquidity, on-chain data shows.
Related: Unnamed presale address amasses $33M SOL in an hour
The wallet spent 6,000 Solana (SOL) tokens worth $1.04 million on Shroom coins, in the same block where the token contract deployer added new liquidity. After an hour, the trader sold for 57,112 SOL worth $9.93 million, according to a March 20 X post by on-chain analytics firm Lookonchain.