🔔Cryptocurrency news! The Doraemon meme coin (DORAE) crashed 99% due to suspicious actions by the developer. According to Lookonchain, the developer transferred a huge amount of DORAE tokens to the exchange and traded them for Solana (SOL), which caused the price of DORAE to plummet.

🔍Blockchain analysis shows that the wallet that dumped the coins received 304 SOL (over $41,000) from the Kucoin crypto exchange, then bought 2.5 million DORAE and exchanged it for 10,538 SOL ($1.45 million).

📉This potential rug pull on Solana comes amid a surge in meme coins, with a total sector capitalization of $48 billion.

🚨It is important to remember the risks! Meme coins are often subject to high volatility, and attackers can take advantage of this by creating dubious projects and scamming unsuspecting buyers.

What are your thoughts on this? 🤔 Leave your comment below!