☠️ MEMECOIN DROPS BY 90% DURING LIVE PITCH ☠️
🚀 Pitch Gone Wrong:
The founder of the Rizz (RIZZ) memecoin faced a shocking 90% price collapse during a live pitch on X, leaving viewers stunned.
👀 Witnessing the Collapse:
Bubblemaps CEO Nicolas Vaiman joined the X Space to witness the chaos. Bubblemaps shared a detailed thread about the event, titled "This Space was wild," documenting the rapid decline.
📉 Launch and Plummet:
Rizz launched on Solana on June 18 with $8M in volume. During the live pitch, Bubblemaps questioned the "bubbles" on the coin’s map, showing a concentration of holdings in a few accounts. They quickly revealed that over 80% of the supply was controlled by the team.
🔍 Snipers and Sell-Off:
The early transactions showed the sell-off was primarily from initial snipers who bought within the first minutes of the launch. This rapid dumping led to the dramatic price drop.
😢 Emotional Reaction:
Nicolas Vaiman shared that the Rizz founder became visibly emotional as the price collapsed. "When the price collapsed, the founder of Rizz sounded emotional, and I felt uncomfortable asking questions. At one point, I even thought he might be crying."
🤔 Behind the Scenes:
A source claimed that the Rizz founder, "Rick," wasn’t actually in charge. Instead, a group of developers from Singapore, notorious for creating and rugging meme coins, were running the show. These devs reportedly kept a large portion of the supply by receiving tokens from initial deployer wallets and sniping tokens with fresh wallets funded by centralized exchanges.
Remember that Memecoins are highly volatile and predictable assets, so make sure to stay on the save side. You never know what might happen.
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