Meme coin merchants are shocked by Kanye West’s YZY token, a brand new Solana meme coin that skyrocketed 1,400% earlier than crashing down. To place issues in perspective, YZY’s absolutely diluted valuation briefly touched $3 billion inside minutes of launch.
This frenzy cooled off as early patrons and insiders rushed to exit the market at a file excessive value of over $3. Consequently, YZY’s value has collapsed by almost 80%, because it trades properly under the $1 mark on the time of writing.
Opportunistic merchants at the moment are eyeing different meme cash available in the market, hoping to seek out the following 100x moonshot with out the insider baggage. They’re loading up on TOKEN6900 (T6900), a viral new meme coin that has raised greater than $2.3 million in lower than 5 weeks of its presale launch.
Not like YZY, the T6900 token options absolutely clear tokenomics and doesn’t have any hidden allocations for insiders or VCs. With its branding revolving across the confirmed “69” theme, TOKEN6900 goals to make use of the identical playbook as SPX6900 (SPX) for its success.
With simply 5 days remaining within the presale, early patrons have a restricted time to buy T6900 for $0.00705 earlier than it lists on exchanges.
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YZY Token Crashes as Insiders Money Out $24.5 Million
YZY’s crash wasn’t actually a results of a typical bout of profit-taking. As an alternative, it was fueled by insiders cashing out on the proper time, leaving retail patrons with heavy losses.
Knowledge from blockchain analytics agency Nansen reveals {that a} small group of 13 early wallets generated about $24.5 million in revenue by promoting on the peak. Out of the primary 99 individuals who purchased YZY, solely 9 have been nonetheless holding tokens after the value crash.
The primary purchaser was reportedly the identical dealer who made enormous income on a Trump meme coin. This means {that a} small insider group is collaborating to control charts and pocket tens of millions.
The truth is, Spot On Chain studies that Kanye West’s YZY token crashed from over $3 to $1 in lower than three hours.
This is the reason a couple of merchants have began to take huge quick positions on YZY. Spot on Chain’s X submit mentions that one dealer shorted YZY with 3x leverage on Hyperliquid and is at the moment holding an unrealized revenue of round $202,000.
Occasions like this remind buyers why meme coin performs with clear tokenomics are so essential. That’s one purpose why TOKEN6900, which is now in its closing presale days, is drawing consideration from crypto whales.
Analyst Predicts 40x Upside as TOKEN6900 Features Traction
TOKEN6900 is a real meme coin that embraces absurdity and doesn’t faux to supply any utility. This brutal honesty in its branding has helped the meme coin increase over $2.3 million in its presale.
Extra importantly, TOKEN6900 has launched with a completely truthful and community-driven mannequin. T6900 doesn’t have any personal VC allocations or insider tokens. It has put aside solely 0.0007% of its 930,993,091 complete token provide for the devs, which is additional locked for 5 years after launch.
This implies the meme coin has ensured equal early entry for all contributors, stopping a couple of whales from dumping on day one.
T6900 primarily attracts inspiration from SPX6900’s success, which has famously delivered a 47,295,987% return over the previous two years. It has even set its token provide only one greater than SPX6900 as a tongue-in-cheek reference to being the “sequel.”
An analyst from 99Bitcoins says TOKEN6900 is shaping as much as be probably the most talked-about meme coin presales, suggesting it might ship a return of as much as 40x this 12 months.
He compares T6900 to SPX6900, noting that whereas SPX has cooled off just lately, the identical hype cycle might spill over into T6900.
Consumers can spend money on T6900 earlier than their extremely anticipated alternate listings by visiting the TOKEN6900 web site. They will additionally stake T6900 tokens for a excessive annual reward of as much as 33% throughout the presale itself.
