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Questionable transactions from the founder wallet of CEHAPE coin
The latest popular trend, memecoins, continues to wreak havoc.
Memecoins, the popular trend of recent times, continue to wreak havoc. The Turkish crypto community shows great interest in memecoins with political figures, which emerged one day after the local elections. But these memecoins are not based on any particular project by their nature.
The coin called CEHAPE, which has extremely high volatility, is one of them. Although its value increased almost 100X in a short time, its decline was just as rapid. CEHAPE's value fell 95 percent from its peak on Wednesday, April 3.
As Coinkolik, we analyzed the on-chain data of CEHAPE, which was released on the Solana network. As a result of some transfer transactions we examined, we found that the wallet belonging to the founder of CEHAPE made a large amount of sales. The wallet in question, which made the sale according to on-chain data, divided the crypto assets in SOL into pieces and transferred them to newly opened wallets.
Founder sold wallet CEHAPE
We examined CEHAPE's owner wallet by using on-chain data in the Solana network. Questionable transactions in the wallet attracted attention.
The founding wallet received 1.5 SOL from address 4Gow5JYdtDB65UuWhGKG3L3Ca3NpxU9anwC6fmV1KBuM in the past. This address, which sent SOL to the founder wallet about three months ago, received 0.492 SOL from the address 5tzFkiKscXHK5ZXCGbXZxdw7gTjjD1mBwuoFbhUvuAi9 registered on Binance.
The founding wallet sold their newly released CEHAPE coin after investors got involved. The wallet converted 2,371,054 CEHAPE into 1.10 SOL. The transaction in question took place on April 3.
