New day, new scam in crypto. Shivon Zilis’ hacked X account posted about the token, and Elon @elonmusk replied with a “💯” on that post. That was enough to send solana:5erj4fz47YLFZc677GNipfaK1G8UrwwPTyy9HPaMtLmk to an $80M market cap within minutes. Then the post was deleted. The token collapsed by more than 80%, eventually falling back toward a $2M market cap. Early wallets made millions while traders who bought into the FOMO were left holding the losses. One hacked account, one Elon reply and millions of dollars moved in minutes. This is exactly why you do not trade a token purely because of a celebrity post.
Karan Singh AroraShare
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.