Maneki (MANEKI), a newly launched Solana meme coin, saw an astonishing surge of more than 45% today. Moreover, it hit a fresh all-time high since its launch earlier this week. In addition, the meme coin has witnessed major whale activity, particularly from Solana (SOL) investors.

Solana Meme Coin Maneki Whale Transaction Update

According to Lookonchain, a blockchain tracking Avenue, investors holding MANEKI or considering buying it should take note of seven wallets exhibiting notable activity. These wallets, potentially linked to each other, dumped 3,388 SOL (approximately $525K) to acquire a whopping 3.99 billion MANEKI. This constitutes a whopping 44.9% of the total supply, within just one minute of MANEKI’s online debut.

Interestingly, they then dispersed this massive stash to nearly 100 new wallets without offloading any. Moreover, the current valuation of the investment is around $88 million, owing to the rapid surge in Solana meme coin’s price. The peculiar movement of these wallets adds intrigue to MANEKI’s rapidly evolving trajectory.

However, such a transaction within just a minute of launch does spark concerns of an insider trading case. This could lead to a pump-and-dump scenario wherein the initial surge in the Solana meme coin value could eventually convert to a higher dump. Such a situation occurs when people of inside knowledge invest in a particular asset indefinitely and offload it at once during a peak.

Also Read: Solana Price Forecast As Meme Coins Surge, Will SOL Hit $200 Soon?

Maneki Price Soars Over 45%

At press time, the Maneki crypto price rallied 46.76% to $0.02157 on Thursday, April 25. Furthermore, it’s worth noting that the surge comes amid an overall bearish turn in the market. Whilst, the Solana meme coin held a market valuation of $191.91 million.

In addition, it clocked a trade volume of $85.08 million in the last 24 hours. Moreover, the Solana meme coin has achieved major crypto exchange listings. These exchange listings include LBank, Gate.io, and Poloniex with the latest one being MEXC Global.

Prior to the launch, the Maneki team unveiled their airdrop campaign. Out of the 8.88 billion total supply of MANEKI, 10% was allocated to the community airdrop. However, several participants didn’t acquire the airdrop tokens as promised. Hence, tbe team addressed their queries and announced that they are still processing the airdrop rewards.

Also Read: Dog-Themed Memecoins Lose Steam as Rivals Surge

The post Solana Meme Coin Maneki Rallies 45%, Secures Major Exchange Listings appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am