Lookonchain said the anonymous wallet's purchase came as CASHCAT became Robinhood Chain's leading memecoin before insider trading allegations emerged during a sharp decline.
An anonymous whale wallet beginning with 0x3ad3 bought 16.02 million CASHCAT for $1 million in a transaction highlighted by Lookonchain on Aug. 5. The buy came as CASHCAT had emerged as the leading memecoin on Robinhood Chain, but the token's momentum was later clouded by insider trading allegations that surfaced during a recent sharp decline.