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$JELLY Token Skyrockets to $170M in Minutes, Drawing Insider Profits and Investor Frenzy

DATE POSTED:January 31, 2025

In a stunning demonstration of market energy, the newly issued memecoin $JELLY, linked to Venmo co-founder Sam Lessin, has upended the Solana ecosystem.

Less than an hour after its launch, the market cap shot through the roof to exceed $170 million, while trading volume in the first 60 minutes of existence took place at an annualized rate of $240 million.

As the token’s popularity grew, so did its market worth. It hit $200 million in just five hours after being launched, making it one of the fastest-clipping dollar-bill rides in recent crypto history. For Solana, which has been enjoying some recent healthy highs, it is yet another high-profile launch and a way to bring some increased attention back to the network after a summer lull.

Insider Gains: Early Movers Cash In on $JELLY’s Explosive Growth

Despite being a memecoin, and a hyped-up one at that, early adopters and well-connected investors enjoyed considerable profits from their pre-launch investments. One such entity, a “Smart Money” wallet (81M5A…ttokw), netted an enormous return on investment from the pre-market opportunity. This address accumulated $JELLY at a 1.982 SOL price point (around $452) before it became available to the general public, and in doing so, established a hefty position at an almost laughable per-token price of $0.00004924.

Solana’s memecoin ecosystem is fast and volatile, as shown by this investor who quickly sold off their newly acquired Solana token after only a few days. Liquidating those holdings netted a jaw-dropping profit of $1.715 million, which equals a nearly 376,000% return on investment. And that return is a testament to the early-stage tokens being launched on platforms like Pump.fun—both their potential and the inherent risks involved.

The Story Behind $JELLY: Venmo Founder and Facebook Veteran Fuel the Hype

Prominent figures from the tech and blockchain sectors endorse the $JELLY excitement—it’s not just a case of market enthusiasm, it seems. In fact, Sam Lessin, a former VP of Product at Facebook and an early investor in Solana, Venmo, Aleo, Teamshares, and Sublime, has associated himself and his social media presence with the page promoting the $JELLY phenomena, called Pump.fun.

The project is associated with a high-profile figure, which gives the token a running start in terms of attracting early traders. In fact, one of the influences that the token had going for it and that it has consistently on its side in crypto is—guess what?—influence. The influence of high-profile figures in the crypto space tends to rub off positively on whatever project they are involved with. More often than not, they tend to be influence figures for a reason: They have mobilized capital, not just for themselves but also for the projects with which they have associated themselves.

Developer’s Strategic Moves and Massive Floating Profits

Apart from initial investors, the developer (DEV) of $JELLY has also played a smart hand in this launch. When launching the token, the developer initially only spent 0.5 SOL ($114) to acquire 17.59 million $JELLY tokens. When the launch began to gain traction, they added to their position with 3.4 additional SOL, reinforcing and ensuring their substantial holdings.

At present, the developer possesses 17.99 million tokens, making up 1.79% of the overall amount. Even though it might be attractive to sell some of these tokens, the developer has not sold any. The current value of $JELLY is $0.2144. If the value of the coins were to match the value of the token at the time of the coin’s creation, the developer would now have $4.048 million more in his bank account than he had when he funded the project.

$JELLY’s Future: Will the Hype Sustain or Fade?

At present, $JELLY is a meme coin with a market capitalization of $212 million. The average meme coin possesses a handful of defining characteristics, which we detail below. Traders and traders’ interests often drive meme coins. Meme coins also typically elicit a lot of interest and attention. From whom, you ask? The interest of retail traders is often a key driver of price actions in meme coins.

The initial success of the token spotlights Solana’s predominance in the memecoin trading domain, where ultrafast price changes, prominent endorsements, and speculative trading create a high-stakes, high-reward arena. For the time being, $JELLY is one of the most buzzed-about tokens on the blockchain, and its immediate future—upward, downward, or flat—will be scrutinized closely by the investor class.

Insiders have already realized massive profits, and the developer is sitting on millions in unrealized gains. Now, everyone is watching to see what the market will do in the next few days. If $JELLY can keep the momentum going, it could further enhance Solana’s position as the go-to blockchain for speedy token launches. But if history is any guide, we should expect the kind of wild price swings and unpredictable direction that trader-packed memecoin markets are notorious for.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: alexkoral/123RF // Image Effects by Colorcinch

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