YZY token is Kanye West’s newly launched Solana memecoin that spiked to a reported $3 billion market cap within 40 minutes and later fell to about $1.05 billion; on-chain data shows insiders held the majority of supply, triggering scrutiny over liquidity mechanics and alleged insider sales.
YZY token spiked to $3B then retraced to ≈$1.05B within hours
On-chain analytics indicate insiders held most of the supply and liquidity mechanics allowed potential developer sales.
Traders and whales continued buying despite risks; analytics platforms reported multi-million dollar profits for early buyers.
YZY token: Kanye West’s Solana memecoin surged to $3B then plunged amid insider-sale concerns—read the latest on market cap, on-chain data, and trader reactions. Read more.
Several well-known traders have also bought the newly launched token promoted by rapper Kanye West, which pumped to over $3 but has since fallen back to $1.
What is the YZY token and why did it spike?
YZY token is a Solana-based memecoin launched by Kanye West’s Yeezy Money project that reached an estimated $3 billion market cap within 40 minutes of launch. Rapid buying, limited initial liquidity design and heavy insider holdings coincided to drive a steep short-term price surge and a fast correction.
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On-chain analytics firms reported that a large share of the YZY supply was held by a small number of wallets prior to distribution. Conor Grogan, a Coinbase director quoted in industry commentary, noted roughly 94% of supply traceable to insiders, with one multisig holding around 87% before redistribution.
The Yeezy Money website described a mechanism of 25 contract addresses with one chosen at random as “official” to deter snipers. However, analytics flagged that only YZY tokens were added to the liquidity pool, enabling token holders with developer access to alter liquidity and potentially sell sizable positions.
Industry trackers recorded multiple notable outcomes: an early peak market capitalization of roughly $3 billion, a retrace to about $1.05 billion at time of reporting (Nansen data), an alleged $6 million unrealized profit for one early buyer at peak, and a separate trader who profited $3.4 million after paying $24,000 in priority Solana fees.
One user who claimed prior insider knowledge accidentally bought a wrong token and temporarily lost $710,000 but later recovered losses by purchasing the correct contract, according to on-chain commentary. These episodes underscore execution risk, front-running and the value of contract verification.
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Source: https://en.coinotag.com/yzy-tokens-rapid-rise-and-decline-may-indicate-insider-selling-while-whales-and-traders-continue-buying/