Dormant Wallet Turns $4.1K into $1.13M on $DONT Token Pre-Launch Announcement

A dormant Solana wallet has achieved an astonishing 276-fold return on the DONT memecoin, turning an investment of $4,100 into $1.13 million in just three hours amid suspicions of insider trading. The trader purchased billions in tokens right before DeFi Development Corp. officially launched it.

Blockchain analytics platform Lookonchain revealed that the trader partially sold some tokens for quick profits while retaining the remainder. Although the token’s value surged initially, it later collapsed sharply, exhibiting the volatility typical of new Solana-based memecoins.

Wallet’s Pre-Trade Inactivity

Notably, the wallet had been inactive for about three months prior to the DONT event. Between October 2025 and January 22, 2026, there were no transactions, marking a clear period of dormancy that ended suddenly on launch day. Earlier activity in August 2025 included account creation, minor transfers, and staking operations, most of which were associated with Kraken exchange wallets.

However, at around 13:00 UTC, the address received incremental SOL deposits from Kraken hot wallets, first 1 SOL, 7 SOL, and finally 8 SOL, totaling approximately $2,080 in value at current rates. These funds directly facilitated the subsequent purchase on Raydium.

The wallet acquired 29.08 billion DONT tokens for approximately $4,100 in SOL, placing it in a favorable position just before the announcement from DeFi Development Corp. went live. The wallet’s history showed no involvement with other tokens, which raises suspicions given its singular focus on the DONT token.

Trader’s Move Sparks Insider Link Suspicion

Minutes after buying DONT, the price soared from nearly zero. The wallet then sold some tokens to capitalize on this hype-driven increase. By about 15:52 UTC, it had sold 10.6 billion tokens in batches using Raydium swaps, making $182,000 in SOL. The remaining 18.5 billion DONT tokens were worth about $955,000 at that time, bringing the total profits to $1.13 million.

Meanwhile, the trader’s selling pattern shows a calculated, informed strategy rather than a dump, as they sold at key price levels. This means they were paying close attention to price changes. The trader also used temporary swap accounts to discreetly withdraw funds without drawing attention to their main wallet.

Community members tracked these transactions in real time using tools like Solscan and DexScreener. This raised questions about any links to the company that issued DONT. While some have made profits, many tokens remain unsold, suggesting the price could change further.

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