The scapegoat POPCAT: Market value shrinks by 50 million, merely a 'pawn' in the DeFi competition
Stop blaming POPCAT! In this 43% crash, it is the biggest victim. As a meme coin in the Solana ecosystem, its 120 million market value and over 50 million TVL give it inherent independence, but due to low liquidity, it became a target for attacks—attackers used it to leverage the market and hunt down the HLP pool of Hyperliquid.
During the event, POPCAT dropped from $0.21 to $0.12, with a market value decrease of 50 million, but the SOL community did not abandon it, and the coin price quickly rebounded by 5%. Behind this is the intense competition among DeFi exchanges, and it cannot be ruled out that competitors used 'suicidal attacks' (3 million cost to inflict 5 million loss) to weaken rivals.
Reminder for investors: When choosing a platform, it’s not just about the coin type, but also about risk control; otherwise, even quality coins can become victims of capital games.
