Short-term trade price drops about 99%: Solana ecosystem Meme coin free mika's genesis address transfers half the supply and sells
Solana ecosystem Meme coin free mika (MIKA) fell on October 28. Its genesis address transferred approximately 500.44 million tokens to another wallet, accounting for about half of the initial supply; about 7 seconds later, that wallet sold approximately 500.83 million MIKA on PumpSwap, and after the sale, the short-term trade price was about 99% lower than before. Some claim that the wallet nonce prevented the key holder from transferring funds, but the transfer used a normal recent blockhash, and it is currently still impossible to confirm whether the sale came from an external attack or an existing holder.