Citing ChainThink, Solana's third-largest Meme coin HNUT has seen its price drop over 99% in two hours, falling from $0.07 to below $0.0003. The token had surged over 700% in 24 hours, reaching a peak market cap of $70.94 million. Chain monitoring platforms, including Crypto Scope, warned of abnormal liquidity and on-chain activity, signaling potential Rug Pull risks. ChainThink cautions that Meme coins are highly volatile, driven by market sentiment and speculation, with no intrinsic value or use cases.
Solana Meme Coin HNUT Price Plummets 99% Amid Rug Pull Suspicions
ChainthinkShare
Summary
Solana's HNUT, a top-three Meme coin, saw its crypto price crash over 99% in two hours, tumbling from $0.07 to under $0.0003. The token had earlier spiked 700% in 24 hours, hitting a $70.94 million market cap. On-chain data from Crypto Scope and ChainThink revealed suspicious liquidity and activity, raising Rug Pull concerns. ChainThink warns Meme coins lack fundamentals and are prone to sharp swings.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.