The developer of the Runes protocol launched a new memecoin called Runes on Solana. However, after a successful debut on the DEX Raydium, the Twitter account of Runetoshi, the developer, was suspended and the price of the memecoin crashed. The Runes protocol was initially popular for creating fungible tokens on the Bitcoin blockchain, but its usage has significantly declined in recent months. This decline may be due to the increasing popularity of Solana for creating and launching fungible tokens, as it is more accessible and cost-effective compared to Bitcoin. The memecoin Runes on Solana experienced a pump&dump scenario, with its price initially surging but quickly collapsing. The suspension of Runetoshi's Twitter account and the resulting bad news may have contributed to the price crash. The accusations against Runetoshi for "stealing" money with the pump&dump are unconfirmed at this time.



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