The cryptocurrency market has been experiencing turbulent times as major assets face sharp declines. However, against all odds, Solana-based meme coin JELLYJELLY has defied the market trend with a record-breaking surge. While this stunning performance captured investor attention, it also raised concerns about possible market manipulation.
JELLYJELLY Surges to $500 Million Market Cap
On November 4, 2025, JELLYJELLY hit an all-time high of $0.5, with its market capitalization peaking at an impressive $500 million. In contrast, Bitcoin (BTC) fell below $100,000, and Ethereum (ETH) dipped to $3,000—a level not seen since July. Despite this chaos, JELLYJELLY emerged as a rare exception, backed by its strong trading volume and rapid price spike. Data from CoinGecko revealed a 96% climb in daily trading volume, reaching $462 million. At present, JELLYJELLY is valued at $0.25, representing a 31.7% gain over the past 24 hours, with its market cap adjusting to $250 million.
Suspicious Activity: Market Manipulation Under Scrutiny
This sharp rally, however, has not been without controversy. Blockchain analytics platform Bubblemaps flagged suspicious activities relating to the token’s recent performance. Several wallets, previously inactive, withdrew 20% of JELLYJELLY’s supply from Gate.io and Bitget exchanges, leading analysts to suspect coordinated trading activity. Bubblemaps stated that these centralized exchange withdrawals coincided with a dramatic price surge of 600% before plummeting by 80%—a behavior indicative of potential market manipulation.
This isn’t the first time such allegations have surfaced. Earlier in March 2025, JELLYJELLY was implicated in a manipulation event on HyperLiquid, a decentralized exchange. The incident involved a large-scale whale manipulation, creating a risky short squeeze that exposed HyperLiquid’s HLP vault to $230 million in potential losses. Following these events, the DEX delisted JELLYJELLY, refunded traders, and implemented stronger security measures.
Investors Beware: The Risks of Meme Coins
Meme coins like JELLYJELLY are inherently volatile and speculative in nature. While they can generate quick profits, they often carry heightened risks, including susceptibility to pump-and-dump schemes and liquidity manipulation. Therefore, potential investors are advised to exercise caution and conduct thorough research before diving in.
Boost Your Crypto Research with Trusted Tools
To stay ahead of suspicious activities and understand market trends better, consider using tools like Bubblemaps, a blockchain analytics platform that highlights suspicious wallet behavior. Additionally, traders looking for extra protection should explore advanced trading features offered by trusted exchanges such as Binance.
Conclusion
JELLYJELLY’s meteoric rise to a $500 million market cap amidst a crashing crypto market is both intriguing and cautionary. While opportunities for high returns exist, the risk of market manipulation makes informed decision-making crucial. Stay vigilant, follow reliable market insights, and avoid falling victim to risky speculation.
