RALPH memecoin plunges 97% after $300k developer sale and rapid Solana outflows
Ralph Coin (RALPH), an AI-themed memecoin tied to the "Ralph Wiggum" prompting trend, suffered an 80% intraday crash after a developer offloaded about $300,000 worth of tokens into thin liquidity, according to on-chain trackers. The sell-off on 22 January involved 7.68 million RALPH, worth 1,888 SOL or roughly $245,000 at the time, and sent the market cap sliding from $50 million to around $5 million as the price ultimately fell 97% from the initial dump. The incident has sparked community backlash, highlighted the risks of community-launched tokens, and underscored calls for stronger risk management and personal research among traders.