Kanye West YZY memecoin hits $3B, but falls after insider concerns

Several well-known traders have also bought the newly launched token promoted by rapper Kanye West, which pumped to over $3 but has since fallen back to $1.

Rapper Kanye West’s newly launched YZY token on Solana rocketed up to $3 billion in value just 40 minutes after its launch, but concerns over insider sales have dented a large portion of the gains. 

In a Thursday X post, West, who officially goes by Ye, shared the contract address along with the website for Yeezy Money, which he describes as “A NEW ECONOMY, BUILT ON CHAIN.”

In a later post, West was seen saying, “the official YZY token just dropped.”

Read more