🚨 The YZY Token of Rapper Kanye West Plummets 75% After Launch
On August 21, Kanye West debuted another new hit – but this time not music, but the YZY memecoin on Solana… and the song only lasted a few hours before it fell out of rhythm.🥶
Just 1 hour after launch, the market cap of YZY surged from ~200 million USD to 3.2 billion USD – a tenfold increase. Shortly after, YZY plummeted over 75%, wiping out billions of USD in market cap and raising concerns of manipulation.
Although Kanye directly contributed 30 million YZY (~34 million USD) to the liquidity pool, he still holds >70% of the supply → an extremely high level of concentration.
Celebrity memecoins can explode due to FOMO, but the risk of “crashing” is always lurking. With YZY, centralized control increases the risks of manipulation and liquidity.
👉 Don't let your “idol” turn your wallet into a dumping ground.
