Memecoins
Solana Meme Coin Maneki Rallies 45%, Secures Major Quotes
Maneki (MANEKI), a recently launched Solana coin, saw an astonishing increase of over 45% today. Additionally, it has reached a new high since its launch earlier this week. Additionally, the meme witnessed major whale activity, particularly from Solana (SOL) investors.
Solana Meme Coin Maneki Whale Transaction Update
According to Lookonchain, an Avenue blockchain tracking company, investors holding MANEKI or considering purchasing it should take note of seven wallets showing notable activity. These wallets, potentially linked to each other, dropped 3,388 SOL (approximately $525,000) to acquire a whopping 3.99 billion MANEKI. This represents 44.9% of the total supply, just one minute after MANEKI’s online debut.
Interestingly, they then dispersed this massive stash across almost 100 new wallets without unloading any of them. Additionally, the current valuation of the investment is around $88 million, due to the rapid rise in the price of the Solana Meme coin. The peculiar movement of these portfolios adds intrigue to MANEKI’s rapidly evolving trajectory.
However, such a transaction within a minute of its launch raises concerns about an insider trading case. This could lead to a pump and dump scenario in which the initial thrust of the Solana meme piece the value could possibly convert to a higher dump. Such a situation occurs when people with insider knowledge invest in a particular asset indefinitely and immediately get rid of it during a spike.
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Maneki price rises by more than 45%
At press time, the Maneki crypto price increased by 46.76% to $0.02157 on Thursday, April 25. In addition, it should be noted that this increase occurs in a context of an overall bearish turn in the market. While the Solana meme coin had a market valuation of $191.91 million.
Additionally, the trading volume stood at $85.08 million in the last 24 hours. In addition, the Solana piece of money has achieved significant listings on crypto exchanges. These exchange listings include LBank, Gate.io, and Poloniex, the last one being MEXC Global.
Ahead of the launch, Team Maneki revealed their drop campaign. Of the 8.88 billion MANEKI total supply, 10% was allocated to community airdrop. However, several participants did not acquire the airdrop tokens as promised. Therefore, the team answered his questions and announced that they are still processing the airdrop rewards.
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