2026-01-13 11:28:50

A major memecoin launched by a prominent former New York City official unraveled spectacularly. The token skyrocketed to a $600M market cap before collapsing to under $100M in what appears to be a classic rugpull scenario.

The price action tells the story: the coin crashed 81% from its peak of $0.58, bottoming out around $0.11. The entire cycle allegedly played out within just 30 minutes.

Based on market analysis, the project founder is estimated to have captured approximately $3.5M during this brief window. The incident raises serious questions about due diligence, celebrity involvement in crypto launches, and the persistent vulnerabilities in the memecoin ecosystem.

This case serves as a stark reminder for investors: explosive growth in newly launched tokens often precedes equally dramatic crashes. The memecoin space remains a high-risk environment where proper research and caution are essential.

MAJOR2,77%

TOKEN7,17%

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ChainComedian

· 11h ago

It's the same celebrity coin and pump again; this routine is completely worn out. Really, making 3.5 million in 30 minutes—why are retail investors still here trying to buy the dip?

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memecoin_therapy

· 11h ago

It's the same old trick again, cut and run in 30 minutes. Celebrity coins really need strict regulation; they cut without blinking. $3.5 million just like that, and we're still calculating a $200 loss... Meme coins are just casinos; don't fool yourself into thinking "research" can save you. Who would still believe celebrities issuing coins? That's really out of line.

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CryptoWageSlave

· 11h ago

Dropped from 600 million to 100 million in 30 minutes, this is memecoin... It's the same old trick of celebrities harvesting retail investors.

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SilentAlpha

· 11h ago

Make 3.5 million in 30 minutes, that's the magic of memecoin, haha It's another "former official" scheme, believe it or not I just want to know what those who bought in are thinking... really This pump speed is incredible, more exciting than a roller coaster Celebrity coins are always the biggest risk, can't you learn that, everyone

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NFTArchaeologis

· 11h ago

In 30 minutes, it dropped from 600M to 100M. This script is truly... classic. Yet another "Black Death" on the chain, just a tombstone endorsed by celebrities.

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