According to PANews, popular rapper Sexyy Red launched the PRESI token earlier today. The launch was marked by a post from a trader who claimed to have bought $3,664 worth of PRESI at its lowest point and sold it for $57,000 during its first surge.
However, blockchain investigator ZachXBT on platform X raised concerns about the launch. He pointed out that Sexyy Red's team had bought approximately 90% of the total PRESI supply during the presale. He also noted that an hour before this, the team had launched another token, of which they had bought 82%. ZachXBT suggested that the post about the $57,000 token sale could have been made by the development team, as they had bought and received new funds from ChangeNow at the exact same time as the deployment.
Upon investigation, it was found that Sexyy Red has 1.7 million followers on platform X.