HNUT Meme Coin on Solana Faces Suspected Rug Pull as Token Price Crashes Nearly 99% Within Hours

According to GMGN data tracking on December 30, the Solana-based meme coin HNUT—previously ranking third by trading volume—has become the subject of a suspected rug pull incident. The meme coin price experienced a catastrophic collapse, dropping from a peak of $0.07 to below $0.0003 in mere hours, representing a devastating loss of over 99% of its value.

The Rise and Fall: From 700% Surge to Near-Total Collapse

Just hours earlier, HNUT displayed explosive momentum, surging approximately 700% within a single 24-hour period. This explosive rally pushed the token’s market valuation to $70.94 million at its peak, temporarily establishing it as one of the most actively traded assets on the Solana network during that window.

However, this meteoric rise had already triggered red flags among on-chain security analysts. Monitoring platforms including Crypto Scope flagged suspicious patterns in HNUT’s liquidity activity and on-chain behavior, identifying them as warning signs consistent with rug pull preparation.

Warning Signs Preceded the Collapse

The abnormal metrics detected by security platforms—including irregular liquidity flows and suspicious transaction patterns—indicated elevated risk of a coordinated exit event. On-chain monitoring services had alerted traders to exercise caution, yet the subsequent price action suggests the rug pull proceeded regardless.

Critical Reminder on Meme Coin Price Volatility and Risk

This incident underscores a fundamental reality of meme coin trading: these assets typically lack underlying utility or intrinsic value, operating primarily on sentiment and speculative hype. Price swings of this magnitude, coupled with the structural risks of concentrated holdings and potential coordinated liquidation events, expose participants to near-total capital loss scenarios.

BlockBeats advises all market participants that extreme volatility is inherent to this asset class, and positions should be sized accordingly with appropriate risk management protocols in place.