Doraemon ($DORAE) Token Rug Pull Raises Red Flags Within the Crypto Community

A recent event involving the Doraemon token ($DORAE) has sparked significant concern within the crypto community, as detailed by Lookonchain, a blockchain analytics platform.

A recent event involving the Doraemon token ($DORAE) has sparked significant concern within the crypto community, as detailed by Lookonchain, a blockchain analytics platform.

The platform highlighted a rapid transaction that led to a drastic decline in the token's price. According to Lookonchain, an entity dumped 2.5 million $DORAE tokens in exchange for approximately 10,538 SOL (valued at about $1.45M) in a single transaction, which resulted in an instantaneous -99% correction on the token's price.

Doraemon( $DORAE ) rug!

Someone dumped all 2.5M $DORAE for 10,538 $SOL($1.45M), causing the price to drop by more than 99%!

1/ Some on-chain data suggests that this person is likely the developer.? pic.twitter.com/5sMPwILkR0

The transaction sequence began when the wallet, identified as "3TQYNN...yFAccW," received 304 SOL (valued around $41,000) from exchanges such as Kucoin. This wallet then bought a further 2.5 million $DORAE, but sold all of these tokens within six hours, gaining a profit of around 10,234 SOL (approx $1.41m). This rapid turnover and large profit have raised questions of possible orchestrated market manipulation.

Lookonchain further analyzed the transaction and suggested that the seller's wallet might be connected to $DORAE's original deployer. A separate wallet, tagged as "CEHgjR...Y45a9z," which had earlier received a colossal 215.7 million $DORAE directly from the deployer's wallet "CKEfb2...HQWuUR," was implicated in funneling funds to the seller's wallet.

This complex sequence of transfers indicates a likely relationship to the token deployment team, which could mean that they or some insiders are driving dramatic sell-the-news dumping in at least one new tape.