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YZY’s Frenzied Launch
Rapper Ye has apparently launched a Solana-based meme coin.
“A new economy, built on chain,” West’s account posted on the X social media platform on Wednesday. He shared the contract address for YZY along with the website that allows people to buy, sell, and send the token.
Framed as part of a broader “YZY Money” ecosystem, the website describes the token as part of “a new financial system built on crypto rails.” YZY is designed as the native cryptocurrency of a wider ecosystem.
In a self-filmed video shared an hour later, West was seen confirming “the official YZY token just dropped.”
 
The token’s launch employed an anti-sniping mechanism, deploying 25 contract addresses with only one chosen as the official YZY token, with the aim of “putting power back into the hands of real traders,” the website notes.
The token distribution shows 20% allocated to the public, 10% to liquidity, and 70% to Yeezy Investments LLC, locked for 24 months under a structured vesting arrangement via Jupiter Lock.
YZY Faces Pump And Dump… But Traders Are Still Buying
Ye’s announcement spurred a buying surge that quickly propelled YZY’s market cap to more than $3 billion within 40 minutes after it went live. The token momentarily tapped $3.16 in early trading — representing a nearly 6,800% jump from its issue price. The token was quickly listed on platforms including CoinMarketCap and Bitget, with Poloniex announcing support shortly after.
However, concerns over insider sales caused a drastic pullback. YZY boasted a market cap of $1.12 billion at the time of writing, according to data analytics platform Birdeye.
According to Coinbase director Conor Grogan, approximately 94% of the token supply was held by insiders. He pointed out that one single multisig wallet once controlled 87% of the supply before it was distributed to multiple wallets.
Despite these concerns, several popular crypto traders said they purchase the meme crypto.
Leverage trader James Wynn observed that whales would likely be attracted to the token because of its liquidity and volume. Wynn noted that it is a short-term play and that he is planning to double or quadruple the amount he has put in the token. The trader highlighted President Donald Trump’s eponymous Solana memecoin that quadrupled in value in the space of 28 hours as his reason behind the investment.
“Aped $YZY on a 60% pull back. $TRUMP ran from $4bn to $15bn in 28 hours. 4x” Wynn explained.
BitMEX co-founder and crypto billionaire Arthur Hayes also claims to have scooped up some of the celebrity-backed token.
Source: https://zycrypto.com/kanye-wests-official-yzy-memecoin-debuts-on-solana-with-blistering-gains/