Solana Memecoin $GAWR Collapses From $14.88M to $20K in Minutes
Wallets linked to the development team dumped $GAWR just four hours after launch, driving its market capitalization down from nearly $15 million to under $20,000 within seconds.
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Terms & Concepts
Memecoin: A cryptocurrency inspired by internet memes or trends, often lacking intrinsic utility but traded for speculative purposes.
Market Cap: The total value of a cryptocurrency, calculated by multiplying its price by the circulating supply.
Token Dumping: A rapid sell-off of large token holdings, typically by developers or insiders, causing sudden price collapse.