🚨Main reason why SOL is dumping hard
Solana's price has plummeted to a 3-month low of $161, sparking intense discussion and bearish sentiment. While some see this as a classic contrarian indicator, hinting at a potential rebound, a deeper story is unfolding. This isn't just your average market dip.
A Web of Deceit Unraveling?
Whispers of scandal are shaking the Solana ecosystem. Shocking revelations allege that the co-founder of Meteora, a key player in the Solana DeFi space, has been linked to Hayden, the individual behind the infamous $100M LIBRA rug pull. Their alleged collaboration on various memecoins, including Melania, is reportedly riddled with criminal activity. The Meteora co-founder has since resigned.
Exposing the Rot
Leaked evidence, including screenshots shared by DeFi Tuna, paints a disturbing picture of widespread corruption. Previously trusted mainstream figures are implicated in shady dealings, exposing the dark underbelly of the crypto world. Jupiter, Meteora, major market makers, and other influential entities are all caught in the crosshairs. The rumored total rug pulls by this insider group are estimated to be a staggering $300M+.
Jupiter's Shady Investigation
Adding fuel to the fire, Jupiter's announcement of an internal investigation, conducted by a law firm previously associated with the disgraced FTX, has only worsened their image. The fact that Meteora is a subsidiary of Jupiter makes this situation even more precarious.
Echoes of FTX?
Just like the FTX collapse, these revelations are sending shockwaves through the market. The impact on Solana's future remains uncertain, heavily dependent on Ethereum's reaction. This could be a pivotal moment for Solana – a watershed event or a fleeting crisis that will soon be forgotten. Only time will tell. let me ask you, are you dumping or you are buying the Dip.