99% Nuke on This Meme Coin Raises Fresh Rug Pull Concerns

Blockchain security firm PeckShield has flagged HNUT, a Solana-based meme coin themed “Holly The Squirrel,” after the token collapsed by 99% shortly after launch.

It marks another apparent bundled rug pull in the fast-moving Solana meme coin ecosystem.

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HNUT Raises Rug Pull Fears After 99% Crash

In a post shared on X (Twitter), PeckShield reported that HNUT on Solana has plummeted by 99%, indicating an abrupt price collapse that has erased nearly all of the token’s market value.

HNUT price fell from an all-time high near $0.007 to effectively zero, with remaining liquidity of roughly $29,000 and a market capitalization of less than $1,400.

The token was launched via Solana-based Pump.fun under this contract address. This launchpad has increasingly come under scrutiny in late 2025 for enabling quick-cycle meme coin launches with minimal safeguards.

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On-chain analysis surrounding HNUT revealed heavy bundled transaction activity shortly after launch.

According to reports, approximately 78% of early trading activity involved bundled transactions. This phenomenon is commonly associated with insider supply control, where multiple wallets coordinate to concentrate tokens before executing a rapid sell-off.

Early On-Chain Warnings Highlight the Growing Cost of Ignoring Red Flags

According to on-chain investigator Specter, signs were visible on-chain, and the structure of the launch made the outcome predictable for experienced traders.

Indeed, warnings about HNUT surfaced even before the collapse. Crypto Scam Hunter issued a scam alert a day earlier, flagging bundled on-chain behavior and supply concentration as red flags.

The post urged traders to stay away, citing transaction logs that showed coordinated transfers from multiple wallets into a single address, often a precursor to liquidity drains.

The aftermath of the collapse has also triggered secondary risks. Multiple community trackers reported phishing-style airdrop scams circulating on X, attempting to exploit affected traders by impersonating recovery tools or claim links. Notably, this is an increasingly common tactic following high-volume rug pulls.

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Total trader losses cannot be precisely quantified from public data alone. The fast 99% drawdown effectively wiped out nearly all value for late buyers. Early entrants may have raked in some gains before the crash.

The HNUT incident highlights persistent risks within Solana’s meme coin market. Unchecked liquidity control, non-renounced contracts, and unburned LP tokens continue to allow developers or insiders to exit positions swiftly.

As meme coin activity accelerates into 2026, investors must verify contract renouncements, liquidity locks, and wallet distribution before trading. This is even more critical on rapid-launch platforms designed for speed over security.