According to Foresight News, Solana ecosystem decentralized exchange (DEX) Raydium launched a Meme token named 'CTO' on the X platform using makenow.meme. However, users discovered that makenow.meme had deployed another 'CTO' token, causing confusion about which token was the official one. This uncertainty led to the official Raydium Meme token CTO plummeting over 75% within 24 hours, with its market capitalization falling below $1 million.

Some users reported encountering issues during the process and losing funds. Following these reports, the Raydium team acknowledged that the experiment did not go as planned. This incident appears to have impacted Raydium's native token, RAY, which fell below 2 USDT, declining by 5.1% on the day and currently trading at 2.05 USDT.