Rapper Sexyy Red's team allegedly bought over 90% of her PRESI token's supply at launch, according to a social media post by onchain investigator ZachXBT. The token's value quickly soared from $0.0067 to $1.48 per coin in the first 75 minutes after launch, before crashing by more than 50%. ZachXBT claims that the sudden price pump is partially due to the team's massive purchases of the token. This follows a previous token offered by the rapper, where 82% of its supply was reportedly bought up by the team at launch. Critics often accuse celebrity memecoin launches of being pump-and-dump scams.