SLINK Meme Coin Surges 16,000% in Social Media Scam
SLINK, a meme coin on Robinhood Chain, surged from a market capitalisation of about $500,000 to $82 million in 30 minutes, an increase of roughly 16,000%. It fell back to previous levels about 45 minutes later after a coordinated social media scam was exposed.
Attackers allegedly compromised an X account linked to Shivon Zilis, Neuralink’s director of operations and special projects. They also created the fake @shivolink account and promoted a fabricated brain-computer interface experiment supposedly led by MIT students and involving paralyzed patients. The stolen account appeared to endorse the project, creating false social proof for SLINK.
Elon Musk later replied with a “💯” emoji to a related post. The response did not explicitly endorse SLINK, but traders interpreted the interaction as confirmation. FOMO pushed SLINK’s market capitalisation from about $6 million to $82 million.
After the posts were deleted, SLINK collapsed. On-chain data indicated that dozens of wallets bought before the surge and sold near the peak, generating more than $4.7 million in combined profits. Some returns exceeded 1,000 times, while late buyers suffered steep losses.
The SLINK meme coin incident highlights the risks of compromised social media accounts, celebrity-driven trading and coordinated market manipulation. Traders should verify contract addresses, account authenticity, liquidity and wallet activity before trading, and use strict position sizing.
Bearish
The direct impact on SLINK is bearish. The token’s rapid rise was driven by misleading social media signals rather than verified fundamental developments. Once the posts were removed, SLINK returned towards its earlier levels, showing that the rally was dependent on temporary attention and FOMO.
In the short term, the scam could lead to continued selling pressure, falling liquidity and heightened volatility. Traders may exit positions, while scrutiny of early buyers and possible market manipulation could further weaken confidence. The reported profits made by early wallets also increase the risk that late buyers will remain trapped in losses.
The long-term outlook is also negative unless SLINK develops independently credible utility, liquidity and community support. Meme coins can sometimes recover after sharp crashes, but compromised-account incidents and false endorsements typically damage trust. Any future price rebound would likely be speculative and vulnerable to another rapid reversal.