Kanye West’s YZY Token Collapse: A $3 Billion Meme Coin Mirage
Kanye West's YZY token debuted with explosive HYPE on August 21, rocketing to a $3 billion market cap within 40 minutes. Retail investors piled in, only to watch the token shed 74% of its value by day’s end—plummeting from $3.16 to $0.77. The frenzy masked a calculated wealth transfer: blockchain data reveals 13 insider wallets cashed out $24 million at the peak, while latecomers faced devastating losses.
The token’s first buyer was a notorious sniper linked to prior meme coin exploits, including Donald Trump’s TRUMP token. This pattern of coordinated pumps—followed by rapid dumps—highlights the predatory mechanics lurking beneath celebrity crypto endorsements. Retail wallets absorbed millions in unrealized losses, with one suffering a $1.8 million hit.
