Solana-based CAT Memecoin Crashes After Team Accused Of Hacking And Price Manipulation
Portfolio Pulse from Aniket Verma
The Solana-based CAT memecoin has crashed after its creators were accused of hacking a crypto influencer's account and manipulating the coin's price. The coin's value dropped by 70% in the last 24 hours.
May 28, 2024 | 8:18 am
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NEGATIVE IMPACT
Solana's reputation may be impacted due to the controversy surrounding the CAT memecoin, which is based on its blockchain.
The controversy surrounding the CAT memecoin, which is based on the Solana blockchain, could negatively impact Solana's reputation and investor confidence in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
ORDI experienced a brief price surge due to manipulation by the CAT memecoin team, but the impact may be short-lived.
ORDI's price was briefly manipulated by the CAT memecoin team, but the long-term impact is uncertain as the surge was artificial.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60