Keith Gill posted the ticker of the new Solana memecoin and the contract address on his Roaring Kitty X Twitter account. This triggered a brief trading frenzy, before Keith Gill deleted the post.
After the deleted X post Red Kitten Crew, a company owned by Gill, briefly reached a market capitalization of $11,000,000 before dropping about 67% at the point when this was written, down to $3,6 million. according Dexscreener is a screener that can be used to detect and remove viruses.
The developer of RKC sold roughly $611,000 and earned another $118,000 through Pump.fun in creator fees, totaling approximately $729,000. according Lookonchain, a blockchain analytics firm. Lookonchain stated that the developer purchased 395.18 Million RKC using 10 wallets, which represents 39.52 % of the RKC token supply.
Gill had not posted anything in 15 months. This X-post raised concerns about a compromised account. The token’s distribution indicates a coordinated effort in which wallets connected to creators were ahead of the community and extracted value.
This episode shows the dangers of celebrity-linked token launches. A single post on social media, or even a suspicion that an account has been compromised, could send tokens with a thin trading volume sharply up before early buyers sell to later purchasers.
Cointelegraph contacted Gill in order to determine if he was still the owner of his X-Account.
RNC token deployer’s sales. Source: Lookonchain
Gill, a former financial analyst and retail trader, was widely credited with triggering the 2021 GameStop Short Squeeze through social media posts that went viral. These encouraged retail traders to purchase significant amounts of GameStop stock (GME), forcing short sellers like Citron Research, to close their short positions.
RNK token with a now-deleted post. Source: Roaring Kitty
In just one hour, a Memecoin investor lost $190K.
One cryptocurrency trader, who was trading the RKC, lost $190,000. This highlights the risks of dealing with newly launched memecoins, which have a very concentrated supply.
RKC Memecoin Trader Loses Nearly $190K Lookonchain
This trader lost $188.600 after selling coins that he bought for only $62,200. according Lookonchain
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Memecoins have long struggled to extract value from coordinated sniping and other similar activities.
On Wednesday, blockchain visualization platform Bubblemaps warned that At launch, 90 wallets with newly-funded funds bought 90% of the Mystery (MYSTERY), memecoin’s supply. They described this token as having a high concentration. “textbook scam.”
Dexscreener: The Mystery Token has crashed over 98% and erased most of the $7.5 Million market capitalization at its highest point. data shows.
Mystery/USD, all-time chart. Source: Dexscreener
A. In February 2025. cryptocurrency sniper made Zhangpeng Zhao (former CEO of Binance) revealed his Belgian Malinois, named Broccoli, and spent nearly $28,000,000 on it. “Broccoli,” Launchpad Pump.fun is launching a new wave of listings for memecoins that are driven by the community.
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Source: cointelegraph.com
