The meme coin MOONPIG, associated with Solana, has witnessed a significant price plummet of over 30% in the last 24 hours and 60% from its all-time high. Suspicions of a rug pull arose, with attention drawn to James Wynn, a major player on Hyperliquid. Initially a market sensation, MOONPIG saw a remarkable 1500% surge in just 21 days, hitting a peak of $0.135 before plummeting. Notable investors like the TRUMP token whale and a trader profited immensely from MOONPIG, driving its market cap to $113 million. However, a sudden sell-off on May 24 led to accusations of a rug pull, with Wynn being blamed for manipulating prices. Despite his denial, doubts linger within the community. Nevertheless, some users defend his actions, pointing to his substantial investment in MOONPIG as evidence of genuine intent. The coin's price has since shown signs of recovery, but the saga continues amidst skepticism and uncertainty. Read more AI-generated news on: https://app.chaingpt.org/news