A crypto investor, known as the King Shrimp, has been increasing their holdings in the Mollars token presale, making them potentially the largest holder of the Ethereum blockchain’s upcoming store-of-value token. The investor has a successful track record with meme coins such as Shiba Inu, Volt Inu, and Robo Inu. The King Shrimp has made multiple purchases of Mollars tokens, totaling nearly 8 ETH or around $23,000. This investment is estimated to be around 57,700 Mollars tokens, purchased at an average of $0.40 per token.
The Mollars token is set to be listed on two cryptocurrency exchanges, Bitmart and LBank, around June 1st. If the initial coin offering reaches its maximum hard cap, the listing price of the token will be $0.62 per token. This would result in a profit of approximately $12,695 for the King Shrimp on listing day. Furthermore, some projections suggest that the Mollars token could reach $15 by the end of the year, potentially generating even higher profits for investors.
The total token supply of Mollars is 10 million, with only 40% designated for the presale. The funds raised in the presale, totaling $1.31 million, will be used to support the development and growth of the project. The decision by the King Shrimp to move a significant portion of their funds from Shiba Inu to Mollars may indicate higher expectations for the growth potential of the Mollars token compared to Shiba Inu in the future.
While Shiba Inu has yielded investors a 168% gain this year, many holders are still experiencing losses in 2024. In contrast, the Mollars token has shown promising potential for significant gains, as indicated by the actions of the King Shrimp and other migratory traders. The King Shrimp’s strategic investments in Mollars could result in substantial profits, particularly if the token’s value continues to rise after listing on exchanges.
Overall, the King Shrimp’s investments in the Mollars token presale represent a significant opportunity for profit, especially considering the potential growth of the token and its upcoming listing on major exchanges. By capitalizing on this opportunity early on, the investor is positioning themselves for substantial returns in the cryptocurrency market. As the crypto industry continues to evolve, strategic investments like those made by the King Shrimp may become increasingly common among savvy investors looking to maximize their profits.
