Trader Loses $500K in Hours as Kanye’s Yeezy Coin Crashes
Within hours of trading, the token delivered a brutal lesson in volatility, wiping out half a million dollars from one unfortunate investor.
Blockchain data shows that a trader behind wallet 6ZFnRH deployed 1.55 million USDC to scoop up nearly one million YZY tokens at $1.56 apiece. But the hype quickly unraveled. As liquidity dried up, prices collapsed below the $1 mark, forcing the whale to capitulate at $1.06 and walk away with a devastating $500,000 loss in less than two hours.
Speculators Double Down Despite Crash
Instead of cooling interest, the collapse has only fueled more risky bets. High-profile trader Machi Big Brother revealed a 3x leveraged long position worth 570,000 YZY, signaling confidence that the memecoin’s wild swings can be exploited for rapid gains.
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Adding to the frenzy, Kanye West himself stepped into the action, depositing 30 million YZY ($34 million) into liquidity pools on decentralized exchange Meteora. His strategy places a trading band between $3.17 and $4.49. If the token climbs past the upper limit, West could potentially cash out $134 million at peak prices.
A Perfect Storm of Hype and Risk
The mix of whale liquidations, leveraged bets, and celebrity-backed liquidity injections has created a storm of speculation around YZY. For now, however, the token is struggling to maintain momentum, slipping below $1 and raising fresh doubts about whether Yeezy Money can sustain its hype-fueled run.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
The post Trader Loses $500K in Hours as Kanye’s Yeezy Coin Crashes appeared first on Coindoo.
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