Memecoin from Alleged US Seizure Theft Wallet Plummets by 97%

A memecoin launched by a wallet tied to a suspected US seizure theft has seen a staggering 97% decline, prompting concerns over its tokenomics.

A cryptocurrency wallet associated with an alleged theft involving US government-seized assets has made headlines for launching a new Solana-based memecoin on the platform Pump.fun. However, shortly after its release, the token experienced a dramatic decline, plummeting by an alarming 97%.

This sudden crash has raised significant concerns regarding the tokenomics behind the memecoin, leading many investors to question its viability and legitimacy. The connection to the alleged seizure and subsequent theft has further complicated the narrative surrounding this new digital asset, prompting heightened scrutiny from the crypto community.