Maneki (MANEKI), a new meme coin on Solana, surged over 45% today, reaching a record high since its recent launch. Notably, significant whale activity, especially from Solana (SOL) investors, has been observed.
Today, the price of the Maneki crypto surged by over 46%, despite the prevailing bearish market sentiment. Notably, significant whale activity was observed, with more than 44% of the meme coin’s total supply being acquired. Alongside this surge, the Solana-based meme coin secured listings on various cryptocurrency exchanges, such as Gate.io and MEXC Global.
Whale Activity Raises Eyebrows in Maneki (MANEKI) Launch
According to Lookonchain, an avenue for blockchain tracking, potential investors eyeing or already holding Maneki (MANEKI) should take heed of seven wallets showing significant activity. These wallets, believed to have connections, swiftly exchanged 3,388 SOL (equivalent to approximately $525K) for a staggering 3.99 billion MANEKI within just one minute of the coin’s online debut.
Surprisingly, these wallets then distributed this substantial amount across nearly 100 new wallets without selling any MANEKI. As a result, the current value of this investment has skyrocketed to approximately $88 million, owing to the rapid surge in the Solana meme coin’s price. This curious maneuvering of funds adds an element of intrigue to the rapidly evolving trajectory of MANEKI.
However, the immediate and significant transaction shortly after launch raises concerns of potential insider trading. Such activity could lead to a pump-and-dump scenario, where initial price surges are followed by substantial sell-offs. Insider traders with privileged information invest in an asset early, then swiftly offload it at its peak, potentially leaving other investors at a disadvantage.
Maneki (MANEKI) Sees 46.76% Surge Amid Bearish Market
At the time of reporting, the price of Maneki (MANEKI) crypto surged by 46.76% to reach $0.02157 on Thursday, April 25. Notably, this rally occurred amidst an overall bearish sentiment prevailing in the market. Despite this downturn, the Solana meme coin boasted a market valuation of $191.91 million.
Accompanying the surge in price, Maneki recorded a substantial trade volume of $85.08 million within the last 24 hours. Moreover, the Solana meme coin secured major listings on prominent cryptocurrency exchanges. Notable among these listings are LBank, Gate.io, Poloniex, and the latest addition being MEXC Global.
Before its launch, the Maneki team introduced an airdrop campaign, allocating 10% of the total MANEKI supply, amounting to 8.88 billion tokens, for the community. However, some participants reported not receiving their promised airdrop tokens. In response, the team acknowledged these concerns and assured the community that they are actively processing the airdrop rewards as promised.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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