MOONPIG Token Plummets 30% in Suspected Rug Pull—Another ’To the Moon’ Dream Crashes to Earth
Another day, another meme coin disaster. MOONPIG—the latest ’next DOGE’ hopeful—tanked 30% overnight as panicked investors scrambled for exits. Was it a rug pull? The crypto Twitter detectives are already on the case.
Signs point to yes: The usual red flags—anonymous dev team, sudden liquidity pulls, and of course, the obligatory ’community vibes’ Discord that went radio-silent mid-plunge. Classic.
Meanwhile, bagholders are left staring at charts that look more like a cliff dive than a moonshot. Just another reminder: In crypto, ’wen lambo’ often ends with ’where wallet?’
(Bonus finance jab: At least traditional pump-and-dump schemes come with a prospectus—even if it’s fiction.)
Inside the Wild Rise and Fall of MOONPIG Meme Coin
MOONPIG was once a phenomenon in the meme coin market, boasting an impressive 1500% price surge over 21 days. It reached a low of $0.003 in early May before peaking at $0.135 on May 24, 2025.
Previous trading activities indicate that several smart money investors reaped significant profits through this meme coin. Specifically, according to Lookonchain, on May 24, a “whale” associated with the TRUMP token invested $7,619 in MOONPIG and gained $1.4 million.
Similarly, according to OnchainLens, on May 19, a trader spent 11.95 SOL (approximately $2,000) to buy MOONPIG. With this investment, the trader earned a profit of $1.4 million in just 17 days. These massive profits pushed MOONPIG to its peak, with a market capitalization reaching $113 million.
However, the price collapse began on May 24, as the PumpSwap price chart showed a massive sell-off with a series of consecutive red candles. MOONPIG’s price dropped from $0.135 to $0.054 by May 26. The community quickly suspected this was a rug pull.
Some users on X pointed fingers at James Wynn, a prominent trader on Hyperliquid. Users suspect him of “dumping” a large amount of MOONPIG.
According to crypto trader Chilearmy123, Wynn bought 3% of MOONPIG’s total supply. Then he pumped the price and sold it off for a 1,500x profit, causing the price to collapse. Wynn, who holds a BTC position worth $1.2 billion, was also accused of being paid $9 million by Hyperliquid to open this position.
In response, James Wynn took to X on May 25, asserting that he is neither the developer of MOONPIG nor behind the sell-off. Wynn stated that he was merely an investor and had no intention of manipulating the market.
However, Wynn’s denial did little to ease the community’s concerns. Nevertheless, some users on X supported his stance.
According to blockchain analysis platform Stalkchain, Wynn spent over $600,000 to accumulate 17 million MOONPIG meme coins as a reserve. He then locked capital, added structure, and raised MOONPIG’s visibility.
“Would someone spend more than $600K+, build infra, and go public with his identity…just to rug for a few % in #moonpig?” Stalkchain questioned.
At the time of writing, MOONPIG’s price has shown signs of recovery, trading at $0.07978.
