ZachXBT: Rapper Sexyy Red’s Team Sniped 90% of Their Own PRESI Token Launch

The launch of rapper Sexyy Purple’s PRESI token has come underneath scrutiny following revelations that her crew sniped over 90% of the token’s provide.

The launch of rapper Sexyy Purple’s PRESI token has come underneath scrutiny following revelations that her crew sniped over 90% of the token’s provide. Onchain investigator ZachXBT revealed the findings on X in response to a now-deleted tweet from the American rapper.

ZachXBT’s put up included an inventory of addresses purportedly belonging to crew members who purchased vital quantities of the token at launch. He identified {that a} earlier token related to Sexyy Purple additionally noticed 82% of its provide bought by the crew at launch. Blockchain knowledge confirms that an tackle ending in “jCns” holds about 82% of that earlier token’s complete provide, though it stays unclear if Sexyy Purple actively promoted this earlier token.

On July 2, Purple promoted a brand new Solana-based token named “President Purple” (PRESI), that includes a video of a rocket launch with the tagline “to the moon.” The token noticed an preliminary worth surge from $0.0067 to $1.48 inside the first 75 minutes post-launch. Nonetheless, it rapidly plummeted by greater than 50%, settling at $0.62.

ZachXBT attributed this worth volatility to the crew’s substantial purchases. Blockchain information present that addresses linked to crew members purchased giant portions of PRESI from the liquidity pool. As an example, an tackle ending in “svirD” bought practically 182 million PRESI from the Raydium liquidity pool at 2:43 am UTC on July 2, whereas one other tackle ending in “CBnf” purchased over 69 million PRESI concurrently.

These addresses have additionally interacted with a equally named token, “Make America Horny Once more” (MASA), whose contract tackle ends in “k1M9.” The consolidation tackle talked about in ZachXBT’s put up holds practically 819 million MASA tokens, representing 82% of its complete provide.

In a follow-up remark, ZachXBT expressed his shock on the extent of the crew’s purchases, stating, “Shopping for up 90% of the provision is simply hilarious tbh.” He famous that preliminary estimates had been round 20-30%, however they escalated to 90%.

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