{"id":22672,"date":"2024-06-12T16:00:57","date_gmt":"2024-06-12T13:00:57","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22672"},"modified":"2024-06-12T13:29:47","modified_gmt":"2024-06-12T10:29:47","slug":"insider-trading-alert-on-solana-sol-based-memecoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/","title":{"rendered":"Insider Trading Alert on Solana (SOL) Based Memecoin"},"content":{"rendered":"<p><strong>Solana<\/strong> (SOL) based memecoin SPIKE has experienced a dramatic price drop of 95% following a suspected insider trading incident.<\/p>\n<p>According to Lookonchain, individuals with insider knowledge of the project accumulated a significant amount of SPIKE tokens shortly after the memecoin&#8217;s launch. These individuals then proceeded to sell their holdings in a coordinated manner, triggering a massive sell-off that caused the price of SPIKE to plummet.<\/p>\n<p>The exact amount of SPIKE sold by the insiders is unclear, but it is estimated to be around 292.95 million tokens, representing approximately 29.3% of the total supply. This massive sell-off led to a sharp decline in SPIKE&#8217;s price, which fell from $0.18 to $0.0009 in a matter of hours.<\/p>\n<p>The insider trading incident has raised concerns among investors about the security and integrity of memecoin projects. Memecoins are often characterized by their high volatility and susceptibility to manipulation, making them attractive targets for insider trading schemes.<\/p>\n<h3><strong>What is SPIKE?<\/strong><\/h3>\n<p>SPIKE is a <a href=\"https:\/\/coinengineer.net\/blog\/bloomberg-analyst-seyffart-discusses-possibility-of-solana-spot-etf\/\"><strong>Solana<\/strong><\/a>-based memecoin inspired by the artwork of Matt Furie, the creator of the popular internet meme Pepe the Frog. The memecoin was launched in early 2023 and quickly gained popularity among a small but enthusiastic community of investors.<\/p>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;17886&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Interest in Trump NFTs Has Dropped by Near 99 Percent&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana (SOL) based memecoin SPIKE has experienced a dramatic price drop of 95% following a suspected insider trading incident. According to Lookonchain, individuals with insider knowledge of the project accumulated a significant amount of SPIKE tokens shortly after the memecoin&#8217;s launch. These individuals then proceeded to sell their holdings in a coordinated manner, triggering a<\/p>\n","protected":false},"author":1,"featured_media":22146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[1332,466,319,6794],"class_list":["post-22672","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-memecoin","tag-pepe","tag-solana","tag-spike"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insider Trading Alert on Solana (SOL) Based Memecoin - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insider Trading Alert on Solana (SOL) Based Memecoin - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Solana (SOL) based memecoin SPIKE has experienced a dramatic price drop of 95% following a suspected insider trading incident. According to Lookonchain, individuals with insider knowledge of the project accumulated a significant amount of SPIKE tokens shortly after the memecoin&#8217;s launch. These individuals then proceeded to sell their holdings in a coordinated manner, triggering a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-12T13:00:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-12T10:29:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/\",\"name\":\"Insider Trading Alert on Solana (SOL) Based Memecoin - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\",\"datePublished\":\"2024-06-12T13:00:57+00:00\",\"dateModified\":\"2024-06-12T10:29:47+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg\",\"width\":1200,\"height\":720,\"caption\":\"Solana Cypherpunk\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Insider Trading Alert on Solana (SOL) Based Memecoin\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\/\/coinengineer.net\/\"],\"url\":\"https:\/\/coinengineer.net\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Insider Trading Alert on Solana (SOL) Based Memecoin - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/","og_locale":"en_US","og_type":"article","og_title":"Insider Trading Alert on Solana (SOL) Based Memecoin - Coin Engineer","og_description":"Solana (SOL) based memecoin SPIKE has experienced a dramatic price drop of 95% following a suspected insider trading incident. According to Lookonchain, individuals with insider knowledge of the project accumulated a significant amount of SPIKE tokens shortly after the memecoin&#8217;s launch. These individuals then proceeded to sell their holdings in a coordinated manner, triggering a","og_url":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/","og_site_name":"Coin Engineer","article_published_time":"2024-06-12T13:00:57+00:00","article_modified_time":"2024-06-12T10:29:47+00:00","og_image":[{"width":1200,"height":720,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/","url":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/","name":"Insider Trading Alert on Solana (SOL) Based Memecoin - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","datePublished":"2024-06-12T13:00:57+00:00","dateModified":"2024-06-12T10:29:47+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/Solana.jpg","width":1200,"height":720,"caption":"Solana Cypherpunk"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/insider-trading-alert-on-solana-sol-based-memecoin\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Insider Trading Alert on Solana (SOL) Based Memecoin"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/70674da64ef7457ff399f5f51be296e2","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/47d8a8204de9104b7e21c9124ecff87e02940cf67e2cf7122f4a02f1445ae66b?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/coinengineer.net\/"],"url":"https:\/\/coinengineer.net\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/22672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=22672"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/22672\/revisions"}],"predecessor-version":[{"id":22674,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/22672\/revisions\/22674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/22146"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=22672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=22672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=22672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}