Sure, that is precisely what it seems like. COPE is constructed on Solana Ecosystem I visited their website so you do not have to
>Earn COPE by means of staking throughout swimming pools within the Solana ecosystem similar to on Raydium and Orca and upcoming COPE Buying and selling Swimming pools. Stake in Sollet/Phantom (on-chain) pockets to earn extra COPE and change into claimants in spacedrops.
[Here’s the chart after their devs team sold 10% of the supply on market.](https://preview.redd.it/ywwponjofh191.jpg?width=1934&format=pjpg&auto=webp&s=6535bcb7bd2de02291cd40b268748c723c37c454)
Then he got here to Discord apologizing for the dip.
That is was his response:
[Sorry guys he needed the money.](https://preview.redd.it/13f5es2qfh191.jpg?width=1080&format=pjpg&auto=webp&s=55266c34566a377f080784fc3e9456553a05ed65)
Don’t be concerned this does not cease right here it will get shittier
[Thank you for funding Devs pocket, Cope Holders.](https://preview.redd.it/qx7q1slrfh191.jpg?width=1024&format=pjpg&auto=webp&s=5fbf179c0d9a23b9d41a6e2d0c39d780e6ec3bce)
[His Explanation “got to keep dev team going through this hard time”](https://preview.redd.it/zcst93rsfh191.jpg?width=1024&format=pjpg&auto=webp&s=ba715e6eb582444a6e50d856c189bad7cc06997b)
A Twitter person posted this:
>Every day reminder that Cyrii owned the vast majority of the [$cope](https://twitter.com/search?q=%24cope&src=cashtag_click) provide in his pockets and it by no means bothered anybody He additionally claimed he’d burn a ton and by no means did, as an alternative he offered it now
Tweet: [https://twitter.com/Mister_Ch0c/status/1529106514279112704](https://twitter.com/Mister_Ch0c/standing/1529106514279112704)
47 Comments
Stuff like this is why it’s very important to research the tokenomics of what you’re buying.
+1 for the name. If I were on the jury, I’d acquit the devs. A name like that should send out red signals to everyone.
Also, it is baffling that you can actually name a coin SCAM and have people put in money these days. This bubble was due to burst anyway, and the FED rate hike just accelerated the collapse.
I don’t imagine the investors of the token are coping too well.
How to kill your project 101
“COPE”
Jesus Christ.
I’ll just copy my last comment on a scam coin and paste it here
“Experience is a great teacher, albeit a cruel one.
I’ll say right now that alt coins simply are not worth it, especially the “low cap gems”.
You can put your degen hats on next alt season. Maybe I’ll be right next to you for a gamble or two. But now is not the time.
This time is about risk off wealth preservation, not wealth creation.
Thanks for sharing OP”
“Sorry we rug pulled you”
Shitcoins gonna shit.
“Have tried to raise from VCs but very difficult at this time”
1. Of course its tough you shouldnt be counting on funding well into a bear market
2. As a **Solana** project if VCs dont want to support you then you definitely have some problems ahead. Funding is literally the most reliable aspect of the chain
People sure are gonna need some COPE after seeing that -77% drop…
Classic scam move. I have seen that kind of move in other scam projects too.
Gratz on the gains Cyrill
I understand a lot of projects need to be funded through their own tokens, but this is ridiculous. Seems like they dont care at all about their token, the price or their community. Wouldnt come anywhere near this token.
This reads like a very gentile rugpull and a very disrespectful justification
LOL, and I thought Luna would be hilarious. This coin is even worse 😂😂😂
Solana is dodgey in itself and is just waiting for the VCs to eventually dump on retail.
Never mind another token built on it….
Imagine you’ve lost a lot of money and then you see this dipshit post a thumbs up emoji
solana and all the projects built on it are so garbage lmao
Hey hey Cope gang! You probably just saw that little dippy dip, sorry bout that, but I just took all your money 👍
COPE and SEATHE
securities.
all but btc
Here’s the thing about rug pulls.
It’s rarely someone just selling you a fake product. It’s always a mix of a lack of self-awareness, believing your own bullshit, thinking you’re inherently right because you’re you, incompetence, under estimating the task, over estimating yourself, and just good old fashioned dipping when they feel anxiety.
Sorry for the dip? It’s -77%! That ain’t a dip!
Ultimate shitcoinery. Would be worse if he actually thought he did nothing wrong.
“Keep dev going through this tough time”
Keep the Lambo juiced and Cristal champagne flowing.
There’s no way a 10% sell off is just to pay for the basics in life.
“*Have tried to raise from VCs but very difficult to do so*”
So professional..
I’m probably the first person to ever mention COPE in this subreddit. COPE was a free airdrop originally to anyone who wanted it. It was free money. Never marry your bags. Sell when it goes up. It’s not rocket science yet this subreddit makes it out to be.
Do you know how much he sold it for in term of $$?
I did kinda timed the market and got out at around December 2021 but my dumbass thought the dip was over and got back in couple months later….
Imaginary dev team?
The fact they didn’t plan ahead for an imminent bear market is unforgivable
You can repeat endlessly that too high insiders/VC’s coin allocation is bad for tokenomics and dangerous for retail, but all what you get are some brain dead responses type “follow the smart money” , “stocks do the same” , “they not gonna sell” etc.
This devs are a fucking joke we need regulations ASAP!! Or everyone here are going to witness how shitty projects destroy the fucking reputation of the crypto market… sometimes I understand the BTC maxis calling any other coin a shitcoin.. that’s why!!!
The 8 likes are from the devs gang
I’m on Orca quite a bit and never heard of this coin. Searched and there are two pools for it. One has $8700 total in it, the other has over $100k both are paying a pathetic interest rate so I’m surprised anyone would put money into them, you can do much better with Sol/USDC on orca.
really leaning into the axiom “99% of alts wont survive the bear market”
Cyrii be like: spoilers
Do you blame the scorpion on the frogs back for stinging the frog and drowning them both?
No.
It’s the nature of crypto, only in this case the scorpion stings the frog, drowning him, and motors away on his golden jet ski.
Down markets expose all the crap and also the good ideas that just aren’t well positioned for staying afloat.
Expect quite a bit more of this from the minor coins and a few major coins as well.
This crap makes me nervous for low market cap holders. Pretty much a rug pull
Hey Cope Gang. Yes, we had to sell a little. We are paper handed bitches. You diamond hands are the true heroes. HODL 💪💎✋
The trick is to not get left holding the bag.
This is exactly what happened in the ICO craze last time. All the ICO’s ran out of their initial funding from coin buyers. Then they started dumping their coins to pay for operations, or just to dump and run away with the cash.
This is why you invest in ETH and Bitcoin and screw off with all the centralized premined garbage that most projects are…
lmao.. wait so am I supposed to be mad because a large holder sold his coins? You guys act like crypto is all a ponzi scheme, where everyone has to hold tight together until the next wave of “greater fools” come in to boost your so-called “investment.” He doesn’t owe anyone an explanation or apology for selling some of his assets.
Cyrii : we’re sorry but we had to do this
Also Cyrii (probably) : This is going to hurt me more than it’s going to hurt you.
Hey Cope-headz!! Sorry for that big stiff dick in your butts! Had to pay for my girls braces and booby job job!! Don’t freak out, I won’t do it again until the price goes up… link to my kickstarter- http://www.ifuckduindabutt.con
Hey, what’s up COPE fam?! I wanted to do something extra special for all of you, so I’m hooking you up with special dip pricing. I just fucked everyone with a big red candle while grabbing my cash and leaving, that way you can all buy this nice tasty dip! If you haven’t already, make sure you subscribe to my new YouTube channel and smash that like button!
Geralt would not be happy!