Most investors in the current market are immersed in the PVP pleasure of memes. However, these seemingly open and transparent markets may actually be filled with various conspiracies behind them.

Yesterday, a new meme coin called SHAR was launched, and its market value rose to $50 million at one point after opening. However, at the peak of contemporary coin prices, blockchain detective ZachXBT disclosed a financing brief for the meme coin on X, claiming to have collaborated with 50 top KOLs. (These KOLs may be objects that everyone should avoid in the future.)

Even project partners such as BONK have been included in the cooperation list.

Regarding this, Kadense, the core co builder of BONK, directly came forward and stated that the project has never been communicated, discussed, or collaborated with BONK.

After this news was exposed, SHAR began to fall from its high point. Until 5 a.m., insiders stopped performing and directly smashed 500 million SHARs in a single transaction through a single address, equivalent to 50% of the supply.

This directly caused the coin price to plummet by 90% in an instant, and the market value fell back to only 3 million US dollars.

Many investors have become sacrificial victims due to KOL's call for shares, and the cooperating KOLs have also been criticized as a result.

In addition, according to information shared by Lookonchain, a trader who had previously earned $3.7 million by betting on the cryptocurrency BOME also suffered a Waterloo on SHARE, losing over $400000.