According to Lookonchain, Coq Inu has surged in price, and one lucky investor has made $2 million from a $454 bet on the new COQ token. The token, which was launched on December 8, is up 32% today and nearly 10,00% in a week, and has a market value of $259 million. The lucky trader began buying COQ shortly after the token was launched, and added more tokens in the following days through multiple addresses, eventually accumulating 883.67 billion COQ. Data from Lookonchain shows that the investor has sold about $1.5 million of the tokens and still holds about $700,000. The "About" information provided by CoinMarketCap states that COQ is the first meme coin on AVAX and was founded by "well-respected members of the community" who did not make a distribution and "put the entire coin supply into the initial liquidity of 150 AVAX". The information also states that the contract has been completely abandoned and the liquidity has been destroyed. Coq Inu developers said that the token is only for entertainment, without any practical value or expectation of financial return. They say on their website: "$COQ is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. This coin has absolutely no use and is for fun only." They also say Coq Inu is a "meme coin on the Chad chain" that was born out of "collective friendship, rooted in memes and humor."
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