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Solana has become a breeding ground for pump and dump memecoin ‘cabals’: Bloomberg – TON BOT

Solana has become a breeding ground for pump and dump memecoin ‘cabals’: Bloomberg

The memecoin craze on the Solana blockchain has attracted high-profile individuals like Donald Trump and Melania Trump, leading to rapid growth but also insider advantage. Memecoins like Bonk, Libra, and Trump’s have depreciated significantly, causing losses for retail investors. Cabals manipulate prices through pump-and-dump schemes, exploiting investors. Retail investors should be cautious with memecoins.


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