Rapid Launch and Valuation Surge

A new memecoin on the Solana blockchain, named ‘Suolala’ (索拉拉), has seen its market capitalization soar past $17 million just 15 hours after its launch. According to data from GMGN, the token experienced a dramatic rise in value shortly after its debut.

On-Chain Data Reveals Suspicious Activity

However, the token’s rapid ascent is accompanied by concerning on-chain metrics. Analysis shows that a significant 48.3% of all transactions have been bundled trades, a pattern that can suggest coordinated market activity. Further raising red flags, one address identified as offthecharts.sol is suspected of being an insider.

The wallet holder acquired 3.04% of the total token supply for a mere $221.29. That position is now valued at nearly $500,000, representing an extraordinary return on the initial investment and fueling speculation about early, privileged access.