TechFlow News, October 24 — According to Lookonchain monitoring, an insider sold 500 million SHAR tokens (50% of total supply) in a single transaction for 19,620 SOL ($3.38 million), causing the SHAR price to plummet by 96%.
The insider had used 5,710 SOL ($948,000) across 16 wallets to purchase 665.6 million SHAR (66.56% of total supply), distributing them across over 100 wallets. Four hours prior, they consolidated 500 million SHAR from 104 wallets and sold them in one transaction, realizing a profit of 13,910 SOL ($2.4 million).
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