On August 21, Kanye West launched the meme coin YZY (Yeezy Coin). According to the announcement, the token runs on the Solana blockchain and was accompanied by an active media campaign with social media promotions, integration with the Yeezy brand, and a promised $20K prize fund. In the first hours, the price surged 6,800%, and market capitalization exceeded $3.2 bln.
Amid the listing on the Gate Alpha platform and the hype around West’s name, the price per token briefly hit $3.16. However, the following correction reduced the price to $1.47. According to Coinmarketcap, the current market capitalization is $349.91 mln.
Token Control
The ownership structure raises doubts about the project’s stability. According to GMGN, 90,38% of the total YZY supply is concentrated in six wallets. Of the remaining 9,62%, part was allocated to liquidity (10%) and investors (20%), while 70% remains under West’s control.
According to rugcheck.xyz, the project is rated as “risky.” Concerns include the low number of holders, the ability of creators to manipulate metadata, and almost entirely unlocked liquidity.
In addition to the token itself, the project’s website features a payment service called YE Pay and a debit card YZY Card, supposedly designed for using YZY within the Yeezy ecosystem.
$6 Million Profit and Analyst Warnings
According to Onchain Lens, one trader bought 2.67 mln tokens for 12,170 SOL (about $2.28 mln). Just a few hours later, his investment grew to $8.29 mln, resulting in an approximate profit of $6 mln. Despite the hype, analysts warn of a high probability of manipulation.
Liquidity was created unilaterally – only in YZY, without pairing with any stablecoin. This approach weakens the stability of the trading pair and allows developers to influence the price.
According to lp4fun, the address 5wbbjk…Z6wMcp, presumably linked to the team, added 30 mln YZY to the YZY-USDC pool on Meteora at prices ranging from $3.171 to $4.492. This created a resistance zone, after which the project’s fully diluted valuation (FDV) briefly dropped from $3.2 bln to $2 bln.
Meme Coins and Politics
The token distribution model of YZY largely repeats the structure of the TRUMP coin, which may indicate an attempt to replicate the success of previous media-driven crypto projects. While West is actively promoting the coin, it is unclear how deeply he is involved in the technical and financial aspects. Other celebrities have previously distanced themselves from such initiatives once they started to sink.
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