The global digital assets industry experienced a rug pull incident as an insider sold approximately 50% of the total supply of the newly launched memecoin called SHAR. This caused the price of SHAR to crash by 96%. The insider used multiple wallets to snipe and distribute SHAR tokens to various addresses. Traders who had booked profits on another coin, BOME, also suffered losses on SHAR. Despite the rug pull, SHAR claimed to have a large project in development and stated that they are still committed to delivering their promised ecosystem and technical solutions. The Solana price saw a 5% increase while Bitcoin and Ether showed losses.



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