{"id":18046,"date":"2024-10-24T12:56:44","date_gmt":"2024-10-24T09:56:44","guid":{"rendered":"https:\/\/forklog.com\/en\/insiders-single-transaction-plummets-sharpei-token-by-96\/"},"modified":"2024-10-24T12:56:44","modified_gmt":"2024-10-24T09:56:44","slug":"insiders-single-transaction-plummets-sharpei-token-by-96","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/insiders-single-transaction-plummets-sharpei-token-by-96\/","title":{"rendered":"Insider&#8217;s Single Transaction Plummets SHARPEI Token by 96%"},"content":{"rendered":"<p>On October 23, an unidentified insider sold half of the total supply of the meme coin SHARPEI (SHAR), causing the token&#8217;s price to <a href=\"https:\/\/www.geckoterminal.com\/solana\/pools\/3Zm5BnJvK5xpJ2CKdqajq1HbQSLwz6F3jzSMn5YZeK1C\">plummet<\/a> by 96%. Analysts at Lookonchain highlighted this event. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">An insider sold 500M <a href=\"https:\/\/twitter.com\/search?q=%24SHAR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHAR<\/a>(50% of the total supply) for 19,620 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($3.38M) in a single transaction, causing the price of <a href=\"https:\/\/twitter.com\/search?q=%24SHAR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHAR<\/a> to crash by 96%!<\/p>\n<p>The insider used 5,710 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($948K) across 16 wallets to snipe 665.6M <a href=\"https:\/\/twitter.com\/search?q=%24SHAR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHAR<\/a>(66.56% of the total supply), distributing it to over 100\u2026 <a href=\"https:\/\/t.co\/KEbhTH11LX\">pic.twitter.com\/KEbhTH11LX<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1849260633734422796?ref_src=twsrc%5Etfw\">October 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The trader <a href=\"https:\/\/solscan.io\/account\/CHj3vHyMhF6DF3VkwhzgK833o7uvsN7CrPVyUdmbFo5E#transfers\">spent<\/a> 5,710 SOL ($948,000) from 16 addresses to purchase 665.6 million SHAR (66.56% of the total supply), distributing them across more than 100 wallets. <\/p>\n<p>Subsequently, he sold 500 million SHAR in a single transaction for 19,620 SOL ($3.38 million), earning 13,910 SOL ($2.4 million). This led to a sharp decline in the token&#8217;s price\u2014from $0.042 to $0.0027.<\/p>\n<p>Due to the price fluctuation, another user suffered a significant loss on the meme token. He had previously <a href=\"https:\/\/solscan.io\/account\/CjeBRyWfpjGo9KSo2erb2hihGiYordjnt876BK5QgoWb#transfers\">purchased<\/a> 27 million SHAR for 2,952 SOL, but could only sell them for 471 SOL, incurring a loss of 2,481 SOL ($429,000). <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Even the trader who profited 18,539 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($3.7M) on <a href=\"https:\/\/twitter.com\/search?q=%24BOME&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BOME<\/a> got rugged on <a href=\"https:\/\/twitter.com\/search?q=%24SHAR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHAR<\/a>.<\/p>\n<p>This trader spent 2,952 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> to buy 27M <a href=\"https:\/\/twitter.com\/search?q=%24SHAR&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHAR<\/a> and sold for 471 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>, losing 2,481 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($429K).<\/p>\n<p>He previously spent 2,620 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> to buy 345.35M <a href=\"https:\/\/twitter.com\/search?q=%24BOME&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BOME<\/a> and sold for 21,159 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>, making 18,539 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a>($3.7M).\u2026 <a href=\"https:\/\/t.co\/1GayR5We2Z\">pic.twitter.com\/1GayR5We2Z<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1849274843994476826?ref_src=twsrc%5Etfw\">October 24, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.geckoterminal.com\/solana\/pools\/3Zm5BnJvK5xpJ2CKdqajq1HbQSLwz6F3jzSMn5YZeK1C\">GeckoTerminal<\/a>, at the time of writing, the price of SHARPEI stands at $0.003209, with a market capitalization of $3.22 million.<\/p>\n<p>Earlier in October, on-chain researcher ZachXBT criticized crypto influencer Sion Thomas (Ansem) for executing a Pump &#038; Dump scheme involving several meme coins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On October 23, an unidentified insider sold half of the total supply of the meme coin SHARPEI (SHAR), causing the token&#8217;s price to plummet by 96%. Analysts at Lookonchain highlighted this event. An insider sold 500M $SHAR(50% of the total supply) for 19,620 $SOL($3.38M) in a single transaction, causing the price of $SHAR to crash [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1267,1227,1161],"class_list":["post-18046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-trading","tag-cryptocurrency-transactions","tag-memes"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18046"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18046\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18045"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}