Solana

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Velocore

<ul>
 <li>DORAE explosively gained attention in the Solana ecosystem, soaring to a $2.42 billion valuation.</li>
 <li>A catastrophic crash followed and the valuation dipped to under $10 million.</li>
 <li>Suspicions of a whale-triggered sell-off or developer rug pull abound, but evidence remains elusive.</li>
</ul>
<p><a href="https://coinmarketcap.com/dexscan/solana/9zoEJNgAtYHQmFmW9PambM8Cw3meTuxrmfsh8NPAzjJk/" target="_blank" rel="noopener noreferrer nofollow">DORAE</a>, also known as ‘Doraemon’ had been quietly simmering in the Solana ecosystem. The token’s whimsical name and playful logo attracted curious investors, and whispers of a groundbreaking project fueled anticipation.</p>
<p>On a fateful day, the token soared to unprecedented heights, reaching $2.42 billion in valuation. The <a href="https://cryptonewsland.com/solana-blockchain-sees-record-surge-in-new-addresses/" rel="noopener noreferrer nofollow">Solana </a><a href="https://cryptonewsland.com/solana-blockchain-sees-record-surge-in-new-addresses/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a> buzzed with excitement as traders scrambled to get a piece of the action.&nbsp;</p>
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   <p lang="en" dir="ltr">NEW: SOLANA-BASED TOKEN RAN TO $2.42B MARKET CAP AND NUKED TO UNDER $10M OVER THE SPAN OF 11 HOURS <a href="https://t.co/l5HlRC6yJ5" rel="noopener noreferrer nofollow">pic.twitter.com/l5HlRC6yJ5</a></p>— DEGEN NEWS (@DegenerateNews) <a href="https://twitter.com/DegenerateNews/status/1805870132981272851?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2024</a>
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<p>Memes flooded social media, comparing DORAE to a rocket ship with “To the moon!” captions.</p>
<p>But as swiftly as it ascended, DORAE’s market valuation plummeted to under&nbsp; $10M within 11 hours. Panic set in as the market cap dwindled to a mere fraction of its former glory. The once-celebrated token now clung to life support.</p>
<h2 class="wp-block-heading" id="h-what-caused-the-cataclysmic-crash">What Caused the Cataclysmic Crash?</h2>
<p>Some suspect that a whale decided to play a cruel game. A massive sell-off triggered panic among retail investors, cascading into a freefall. The <a href="https://solana.com/community" rel="noopener noreferrer nofollow">Solana </a><a href="https://solana.com/community" target="_blank" rel="noopener noreferrer nofollow">community</a> erupted in outrage, demanding answers.</p>
<p>Others whisper about a rug pull — a sudden exit by the project’s developers. Did they vanish into the digital abyss, leaving bagholders in their wake? Meanwhile, theories abound, but evidence remains elusive.</p>
<p>As the dust settles, DORAE holders lick their wounds. Some vow to HODL, believing in a phoenix-like revival. Meanwhile, <a href="https://cryptonewsland.com/solana-adds-blinks-and-actions-for-effortless-crypto-trading-on-social-apps/" rel="noopener noreferrer nofollow">Blinks and </a><a href="https://cryptonewsland.com/solana-adds-blinks-and-actions-for-effortless-crypto-trading-on-social-apps/" target="_blank" rel="noopener noreferrer nofollow">Actions</a> have been added to Solana’s dashboard. These features will facilitate seamless crypto trading on social media platforms.</p>
<p>The Solana community, resilient as ever, rallies. New projects emerge, promising innovation and stability. Perhaps the next moonshot awaits—a token that learns from DORAE’s wild ride.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitgets-10m-funding-ignites-derivatives-exchange-battle/" rel="noopener noreferrer nofollow">Bitget’s $10M Funding Ignites Derivatives Exchange Battle</a></li>
 <li><a href="https://cryptonewsland.com/velocore-loses-10m-in-hack-will-this-trigger-a-new-wave-of-dex-regulation/" rel="noopener noreferrer nofollow">Velocore Loses $10M in Hack: Will This Trigger a New Wave of DEX Regulation?</a></li>
 <li><a href="https://cryptonewsland.com/african-startup-afriex-grows-500-in-6-months-after-10m-fund/" rel="noopener noreferrer nofollow">African Startup Afriex Grows 500% in 6 Months After $10M Fund</a></li>
 <li><a href="https://cryptonewsland.com/ripples-10m-cap-vs-secs-2b-penalty-a-defining-moment-for-cryptos-regulatory-future/" rel="noopener noreferrer nofollow">Ripple’s $10M Cap vs. SEC’s $2B Penalty: A Defining Moment for Crypto’s Regulatory Future</a></li>
 <li><a href="https://cryptonewsland.com/metacades-community-driven-gamefi-platform-raises-over-10m-in-presale/" rel="noopener noreferrer nofollow">Metacade’s Community-Driven GameFi Platform Raises Over $10M in Presale</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/dorae-rallied-to-2-42b-market-cap-before-dipping-to-under-10m-in-11-hours/" rel="noopener noreferrer nofollow">DORAE Rallied to $2.42B Market Cap Before Dipping to Under $10M in 11 Hours</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

DORAE Rallied to $2.42B Market Cap Before Dipping to Under $10M in 11 Hours

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