MEMECOIN HITS $80M MARKET CAP, THEN CRASHES 97% An account linked to Neuralink was suspected of being hacked and posted the contract address for solana:5erj4fz47YLFZc677GNipfaK1G8UrwwPTyy9HPaMtLmk. The market interpreted this as an endorsement from Elon, driving solana:5erj4fz47YLFZc677GNipfaK1G8UrwwPTyy9HPaMtLmk’s market cap to nearly $80M. Then, the post was deleted. The price plummeted, losing between 80% and 97% of its value at times. On-chain data revealed a series of wallets that bought in extremely early and then dumped their holdings, with estimated total profits exceeding $4.7M.
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