A teenager disappeared with a loot of 30 thousand dollars collected after launching his own project, the GenZ Quant (QUANT). This initiative caught the attention of a community, which even reached a frenzy, when observing, during a live broadcast, a child of about 12 years of age, whom they saw as a prodigy in the world of cryptocurrencies, business and investments.
Apparently this all started when a photo of the boy behind QUANT went viral on Monday. “I just made $2,000 before school,” read the post from the Solana Plays account on X.
After that, the young man launched his cryptocurrency QUANT and within hours the price of the digital asset skyrocketed due to the enthusiasm of the community that supported the memecoin without asking questions or questioning anything.
“This is real – live action from the kid who is changing the crypto game!” reads the description on the pump.fun platform, where the token was launched. Many believed in its promises of innovation and the next generation of digital assets.
So much so that in a short time, the token's market capitalization climbed from $1 million to $85 million, driven by the virality of the story and the entertaining nature of a child demonstrating business acumen.
Everything seemed to be going well with the children's project when, suddenly, the young man decided to sell his tokens, after which he made an obscene gesture for the camera with his fingers and disappeared with 30 thousand dollars.
The analytics platform Lookonchain captured the boy’s wallet address while he was live streaming. “A kid created a Quant coin while live streaming and sold it for 128 SOL, making a profit of about $30,000!”.
According to Lookonchain's post, the boy then created two more tokens, which he called Lucy and Sorry, and subsequently sold them for a profit of 103 SOL (the native utility coin of the Solana network), equivalent to about $24,000.
BRO LMFAOOOOO pic.twitter.com/rLYWr2cxqB
— BEEZY (@BeezyScores) November 20, 2024
The community consummates its revenge
Another fact from Lookonchain analysts is striking. They point out that “the 51 million QUANT tokens that the boy sold were then worth $4 million!” they wrote. It shows that the token’s price did not continue to fall after the disappearance of its creator, but on the contrary, something that many call “a revenge bomb” happened, in which a group of QUANT token owners joined together to teach a lesson to a young man who wanted to take advantage of the empathy generated while he was live streaming.
Bubblemaps data indicates that a new group of wallets subsequently immediately took QUANT tokens and then sold them at a much higher profit. This group of wallets later made $1 million in profit, outperforming previous traders and the token creator.
"The boy actually lost more than 2 million dollars. I'm proud of us,” said one community member.
The “meme mania” has been on the rise for a year now. In fact, data provided by Google Trends shows that interest in memecoins has grown by more than 300% so far in November.
This boom makes searches a key indicator not only of its popularity, but also of possible movements in its price, as it is evidence that there are retailers entering this market.
In short, memecoins have become a phenomenon that has captured the attention of many, but beyond the laughter, the memes and the fun, it is always good to keep in mind that the risk is latent, lurking for the unwary.
