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.