Huo Xing Finance reports that on September 5, according to Lookonchain monitoring, after Shivon Zilis shared a post containing the SLINK contract address and Elon Musk subsequently replied, SLINK’s market cap surged briefly to $80 million. After Shivon deleted the post, the SLINK price plummeted by over 80%. Analysis indicates that more than 30 suspected insider wallets bought SLINK in advance and quickly sold, collectively profiting over $4.7 million, with peak gains exceeding 1,200x. Meanwhile, numerous traders who followed the rally suffered losses.
Over 30 suspected insider wallets profit $4.7M from SLINK before price crash
MarsBitShare
Summary
Over 30 suspected insider wallets made $4.7M from SLINK before a sharp price decline. The crypto’s price surged to an $80M market cap after Shivon Zilis posted the contract address and Elon Musk replied. After the post was deleted, price analysis revealed an over 80% drop. Many traders who followed the trend lost money.
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