According to Lookonchain, a trader who previously made a substantial profit of 18,539 SOL (equivalent to $3.7 million) by investing in $BOME, faced a significant loss in $SHAR. The trader initially spent 2,952 SOL to acquire 27 million $SHAR tokens but could only sell them for 471 SOL, resulting in a loss of 2,481 SOL (approximately $429,000). This comes after the trader's successful investment in $BOME, where they bought 345.35 million tokens for 2,620 SOL and sold them for 21,159 SOL, netting a profit of 18,539 SOL.

According to Lookonchain, an insider executed a major sell-off of 500 million $SHAR tokens, which is 50% of the total supply, for 19,620 $SOL, equivalent to $3.38 million. This single transaction led to a drastic 96% drop in the price of $SHAR. The insider initially used 5,710 $SOL, worth $948,000, distributed across 16 wallets to acquire 665.6 million $SHAR, representing 66.56% of the total supply, and then distributed these tokens to over 100 different wallets.