#SwingTradingStrategy Memecoin USDP plummeted 99% in just a few hours: An internal scam on Solana?

A new memecoin on Solana named #USDP has become the center of attention after plummeting 99% in less than 6 hours, after reaching a market capitalization of over 150 million USD.

According to data from Dexscreener, wallets linked to the internal project quietly dumped their holdings right after the token price surged 10 times, thanks to funds from retail investors. One wallet even turned 300 USD into 300,000 USD in the blink of an eye. Meanwhile, many other investors were left stuck with huge losses.

Signs indicate familiar “bundling” behavior: the internal team received a large amount of tokens through linked wallets, without going through public trading, held the tokens for a short period to create a false scarcity effect, and then quickly sold off when FOMO peaked.