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Ye\u2019s token launch is already surrounded by controversy and insider selling. <\/p>\n
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Less than a day after its launch, Ye\u2019s memecoin YZY (YZY)<\/a> is already generating significant controversy. On Thursday, August 21, on the same day of its launch, Kanye West\u2019s memecoin went from $3 billion<\/a> in market cap to just $300 million. Critics point to insider selling as the likely reason for the price decline below $1<\/a>. <\/p>\n Less than a day after its launch, Ye\u2019s memecoin YZY (YZY) is already generating significant controversy. On Thursday, August 21, on the same day as its launch, Kanye West\u2019s memecoin went from $3 billion in market cap to just $300 million. Critics point to insider selling as the likely reason for the price decline below $1.<\/p>\n Still, while the whales profited, ordinary traders lost more on average. In total, there were 9,413 wallets that made more than $10 in profit, while 15,999 saw more than $10 in losses. This means that smaller holders were more likely to lose money rather than gain.<\/p>\n Still, while the whales profited, ordinary traders lost more on average. In total, there were 9,413 wallets that made more than $10 in profit, while 15,999 saw more than $10 in losses. This means that smaller holders were more likely to lose money rather than gain.<\/p>\n <\/p>\n Still, while the whales profited, ordinary traders lost more on average. In total, there were 9,413 wallets that made more than $10 in profit, while 15,999 saw more than $10 in losses. This means that smaller holders were more likely to lose money rather than gain.<\/p>\nYZY wallet concentration raises concerns<\/h2>\n