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Hype Alone Isn’t Enough: Why YZY and MELANIA Tokens Collapsed Amid Scam Suspicions
Hype Alone Isn’t Enough: Why YZY and MELANIA Tokens Collapsed Amid Scam Suspicions
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BTCCSquare news:
Celebrity-backed tokens like YZY and MELANIA continue to follow a predictable trajectory—initial hype, rapid price surges, and swift collapses. Kanye West’s YZY token epitomized this trend, skyrocketing to a $410 million market cap before plummeting nearly 70% in hours. On-chain data revealed alarming centralization, with four wallets controlling 80% of the supply.
The launch raised red flags as crypto sleuths uncovered deleted tweets suggesting Ye had rejected a $2 million promotion deal for a fake token. Whether a coordinated scam or a hijacked narrative, the episode underscores the fragility of influencer-driven memecoins. Without sustainable utility, even the loudest hype can’t prevent a crash.
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