Kanye West launches his own meme coin

💰 Rapper Kanye West decided to try his hand in the crypto space by launching his own token, YZY.

The musician, who officially changed his name to Ye, announced the YZY token launch via social network X and the project’s official website, Yeezy Money. The project is positioned as a “new blockchain economy” — a digital financial system operating entirely on cryptocurrency.

YEEZY MONEY IS HERE — A NEW ECONOMY, BUILT ON CHAIN

The YZY token, created on the Solana platform, had an impressive start: in the first 40 minutes, its market capitalization reached $3 billion, but shortly after, the value sharply dropped to $1.05 billion. This fluctuation is explained by investors’ concerns over insider concentration of the token supply and potential sales of “their” tokens.

A unique feature of the launch was the use of 25 contract addresses for the token, with one randomly selected as the official one. This was intended to make it harder for “token snipers” — traders who try to instantly buy assets at launch, causing sharp price spikes. This measure demonstrates the team’s attempt to protect against manipulation, although risks cannot be completely eliminated.

The launch was a real fireworks show: within 40 minutes, the token’s capitalization reached $3 billion. However, this rapid growth was short-lived — suspicions of insider trading quickly cooled investor enthusiasm, and the token’s price fell sharply to $1.05 billion. s.

The project is positioned as a “new blockchain economy” — a financial system where all operations and transactions are managed using crypto technologies. YZY was created on Solana, enabling high transaction speed and low fees, but this did not protect against sharp price fluctuation

The token’s dramatic rise and fall were due to several factors. First, a significant portion of the supply, according to experts, is held by project insiders — around 94% of tokens. Second, newcomers, excited by the possibility of quick profits, sometimes purchased fake versions of the token. One investor initially lost $710,000 buying a fake token but later acquired the real token for $761,000 and was able to recover part of the loss.

Crypto experts warn that meme coins, especially those linked to celebrities, can generate both rapid profits and instant losses. Sharp price swings and high concentration of supply among insiders make such investments extremely risky.

⚠️ Experts advise approaching these projects with caution: verify the token’s origin, supply distribution, and the team’s reputation. In the world of meme coins, quick profits can easily turn into equally fast losses, so it is important not to invest more than you are willing to lose.