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A cryptocurrency trader has managed to leverage the launch of a celebrity-themed token to gain a large portion of its total supply, which they used to turn less than 1 ETH into more than $350,000.

According to available blockchain data, the trader capitalized on the launch of a Caitlyn Jenner-themed token trading under the ticker symbol $JENNER, and promoted by Caitlyn Jenner herself on social media.

$Jenner is live NOW on $ETH. Official contract address to trade now: 0x482702745260Ffd69FC19943f70cFFE2caCd70e9 pic.twitter.com/9Bz9DCFvqz

— Caitlyn Jenner (@Caitlyn_Jenner) May 30, 2024

Cryptocurrency traders managed to use about $3,200 – 0.85 ETH – to capture about 44% of the cryptocurrency supply, accounting for nearly 430 million tokens that they then continued to issue after the price of the cryptocurrency rose.

The trader sold 393 million JENNER tokens for approximately $330,000 while holding approximately $104,000 worth of JENNER in their wallets. This dramatic trade exemplifies the rags-to-riches stories that continue to emerge in the current crypto boom, often attributed to project insiders.

$jenner token on eth launched with 1 eth spreader wallet still holding LP tokens – liquidity not yet locked or burned can be used at any time one wallet (..E75AC) took 44% of supply at launch for 0.84 eth realizing >$350k profit and still holding… pic.twitter.com/LIiWZPF2So

— phomo (@phomo_eth) May 30, 2024

The trader's fortune comes amid a broader memecoin trading trend that has seen memes created with the help of OpenAI's ChatGPT chatbot skyrocket in value to a market capitalization of more than $600 billion.

The brainchild of digital artist Rhett Mankind, Turbo stands out for its unusual origin story as its creator leverages the power of GPT-4, an advanced AI language model, to design its memecoin concept, tokenomics, and even smart contracts.

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