A former NYC political figure launched a memecoin token earlier this year, creating significant market turmoil. The creator withdrew 3.18M USDC from the liquidity pool right at the price peak—a textbook pump-and-dump scenario. What followed was brutal: retail traders got caught in the collapse. One trader, known by the handle Dr6s2o, watched their position evaporate in less than 20 minutes, experiencing a 63.5% loss totaling $473.5K. The incident sparked panic selling across the board, highlighting the extreme risks embedded in low-liquidity token launches. It's a stark reminder of how quickly market conditions can reverse when major liquidity providers suddenly exit positions. For traders navigating memecoin volatility, position sizing and exit strategies aren't optional—they're survival tools.