According to on-chain data, the YZY dev only added YZY itself to the liquidity pool, without USDC.

This means the YZY dev can easily sell YZY by adding/removing liquidity from the YZY/USDC pool, similar to what happened with the LIBRA memecoin.

Specifically, the address 5wbbjk, which may be linked to the YZY dev, added 30M YZY to the YZY-USDC pool on Meteora within the price range of $3.17-$4.49, forming the largest resistance zone for this memecoin.

Coinbase’s Product Director Conor estimated that at least 94% of the total YZY supply is held by the dev and their close circle.

Several wallets that knew about the YZY contract early and bought in ahead are now sitting on millions in profit. Notably, wallet 6MNWV8 even tested purchases yesterday. 🙈
$SOL