Reported 4 days ago
The memecoin sector on the Solana blockchain is becoming increasingly perilous for investors due to the rise of trading 'cabals' that manipulate token prices. Initially seen as a grassroots phenomenon, the market's dynamics have shifted, with well-connected insiders profiting significantly while retail investors often suffer heavy losses. Prominent figures, including Trump and Milei, have fueled the memecoin craze, creating an environment that resembles a closed insider trading marketplace rather than a fair trading platform.
Source: YAHOO