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Waka Flocka Flame's Solana Cryptocurrency $FLOCKA Faces Insider Trading Allegations, 44% Sniped, $5 Million Cap

Jun 17, 2024, 08:50 AM

Rapper Waka Flocka Flame has launched a new Solana-based cryptocurrency, $FLOCKA, which has quickly come under scrutiny. Reports indicate significant insider activity, with a wallet sniping 40% of the supply via exchange at launch and dispersing it into over 60 wallets before the official announcement. The crypto community has criticized the project, with allegations that Waka Flocka himself sniped 44% of the launch and delayed posting the contract address until the coin reached a $5 million market cap. This follows his previous unsuccessful NFT platform, which has been offline for over a year.