Kanye West YZY Token Crashes 80% as 51,000 Traders Lose Millions
- YZY token collapsed over 80% after a brief rally, with 51,000 wallets losing $74M in total.
- Just 11 wallets profited more than $1M, while three wallets lost over $1M each.
- Celebrity tokens on Solana continue to fail, often losing over 70–90% shortly after launch.
More than 70,000 wallets jumped into Kanye West’s hyped-up YZY memecoin launch, only to see it crumble almost instantly. The token skyrocketed 1,400% in its first hour before crashing over 80%, leaving the majority of holders deep in the red. According to Bubblemaps, over 51,800 wallets lost money, with three traders alone losing more than $1 million each. Meanwhile, just 11 wallets managed to walk away with profits north of $1 million.
Celebrity Crypto Hype and Whale Moves Behind YZY Losses
Not even celebrity names could save this token from tanking. Andrew Tate tried to capitalize by shorting YZY with 3x leverage but ended up taking a $700,000 loss on Hyperliquid. Others, like blockchain personality Hayden Davis, were accused of being early “snipers” at launch—profiting massively while retail traders were left holding the bag. Bubblemaps flagged Davis as pocketing $12 million right after his funds from the Libra token scandal were unfrozen.
Insiders and Early Buyers Profited From YZY Token Crash
Even groups tied to well-known memecoin snipers like “Naseem,” who previously made $100M trading TRUMP tokens, were reportedly among the first buyers. These insider-style moves made it nearly impossible for regular traders to compete.
Why Most Celebrity Crypto Tokens Fail on Solana
The YZY fallout isn’t unique. Over 30 celebrity-endorsed tokens launched on Solana in June 2024, backed by names like 50 Cent, Caitlyn Jenner, Iggy Azalea, and Ronaldinho Gaúcho. Nearly all of them tanked, losing more than 70% of their value, with many collapsing over 90%. Despite momentary spikes in retail interest, history shows these tokens almost never evolve into anything sustainable.
The post Kanye West YZY Token Crashes 80% as 51,000 Traders Lose Millions first appeared on BlockNews.
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Kanye West YZY Token Crashes 80% as 51,000 Traders Lose Millions
- YZY token collapsed over 80% after a brief rally, with 51,000 wallets losing $74M in total.
- Just 11 wallets profited more than $1M, while three wallets lost over $1M each.
- Celebrity tokens on Solana continue to fail, often losing over 70–90% shortly after launch.
More than 70,000 wallets jumped into Kanye West’s hyped-up YZY memecoin launch, only to see it crumble almost instantly. The token skyrocketed 1,400% in its first hour before crashing over 80%, leaving the majority of holders deep in the red. According to Bubblemaps, over 51,800 wallets lost money, with three traders alone losing more than $1 million each. Meanwhile, just 11 wallets managed to walk away with profits north of $1 million.
Celebrity Crypto Hype and Whale Moves Behind YZY Losses
Not even celebrity names could save this token from tanking. Andrew Tate tried to capitalize by shorting YZY with 3x leverage but ended up taking a $700,000 loss on Hyperliquid. Others, like blockchain personality Hayden Davis, were accused of being early “snipers” at launch—profiting massively while retail traders were left holding the bag. Bubblemaps flagged Davis as pocketing $12 million right after his funds from the Libra token scandal were unfrozen.
Insiders and Early Buyers Profited From YZY Token Crash
Even groups tied to well-known memecoin snipers like “Naseem,” who previously made $100M trading TRUMP tokens, were reportedly among the first buyers. These insider-style moves made it nearly impossible for regular traders to compete.
Why Most Celebrity Crypto Tokens Fail on Solana
The YZY fallout isn’t unique. Over 30 celebrity-endorsed tokens launched on Solana in June 2024, backed by names like 50 Cent, Caitlyn Jenner, Iggy Azalea, and Ronaldinho Gaúcho. Nearly all of them tanked, losing more than 70% of their value, with many collapsing over 90%. Despite momentary spikes in retail interest, history shows these tokens almost never evolve into anything sustainable.
The post Kanye West YZY Token Crashes 80% as 51,000 Traders Lose Millions first appeared on BlockNews.
Read More