As someone who closely follows the cryptocurrency market, I find Maneki’s sudden surge of over 45% today and hitting a fresh all-time high since its launch earlier this week quite intriguing. The involvement of major Solana (SOL) investors in the meme coin adds to the excitement. However, the whale transaction update raises some red flags for me.
I’ve observed an extraordinary development with Maneki (MANEKI), a recently introduced Solana meme coin. Today alone, it experienced a remarkable increase of over 45%. Furthermore, it reached a brand-new peak since its debut earlier in the week. Notably, significant whale transactions have been detected, predominantly from investors in Solana (SOL).
Solana Meme Coin Maneki Whale Transaction Update
Based on information from Lookonchain, a blockchain analysis platform, it’s worth noting for investors in or considering MANEKI that seven wallets have been active and may be connected. These wallets collectively transferred around 3,388 SOL, equivalent to approximately $525,000, to acquire an astonishing 3.99 billion MANEKI tokens. This represents a significant 44.9% of the total supply and occurred within a minute of MANEKI’s public introduction.
It’s quite fascinating how they distributed approximately $88 million worth of their substantial hoard to almost 100 new digital wallets, without selling any of it in the process. The unusual activity surrounding these wallets contributes to the growing curiosity about MANEKI’s development path.
Observing the quick sale of the Solana meme coin just moments after its launch, I can’t help but raise an eyebrow. Insider trading suspicions creep in as this could potentially set the stage for a pump-and-dump scheme. In such a scenario, those privy to insider information artificially inflate the asset’s value by buying it in large quantities. Once they’ve amassed significant profits, they swiftly sell off their holdings, causing a sudden price drop. This unhealthy cycle can mislead unsuspecting investors, leading them to buy at an inflated price and suffer losses when the market corrects itself.
Maneki Price Soars Over 45%
At the time this article was published, Maneki crypto experienced a significant increase of 46.76%, reaching a price of $0.02157 on Thursday, April 25. It’s important to mention that this growth occurred amidst a general downturn in the cryptocurrency market. Meanwhile, Solana’s meme coin had a market capitalization of $191.91 million.
Furthermore, the trading volume of the Solana meme coin reached $85.08 million within the past 24 hours. Additionally, this digital asset has secured listings on notable cryptocurrency exchanges. Specifically, LBank, Gate.io, and Poloniex have all added it to their platforms. Most recently, MEXC Global joined the list.
Before the grand launch, I observed the Maneki team revealing their airdrop campaign to the public. With a total supply of 8.88 billion MANEKI tokens, they set aside an enticing 10% for community distribution through this airdrop. Yet, as the excitement simmered down, some potential recipients reported not receiving their promised airdrop tokens. In response to these concerns, the team acknowledged the queries and reassured everyone that they were still diligently working on processing the rewards.
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2024-04-25 14:47