Roaring Kitty-Linked RKC Memecoin Crashes After $729K Developer Exit
Cointelegraph
The RKC memecoin crashed by 67% after its developer liquidated $729,000 in tokens following a brief surge sparked by a Roaring Kitty X post.Summary
The Solana-based memecoin Red Kitten Crew (RKC) experienced a 67% price collapse after its developer sold approximately $729,000 in tokens. The sell-off followed a short-lived surge triggered by a post on Keith Gill’s Roaring Kitty X account, which has since been deleted amid speculation of a possible account compromise. Blockchain analytics firm Lookonchain revealed that the developer used multiple wallets to acquire 39.52% of the total token supply before the price increase, characterizing the event as a coordinated value extraction. The incident serves as a warning regarding the volatility of celebrity-linked memecoins, with one trader suffering a $188,600 loss while attempting to capitalize on the hype.
(Source：Cointelegraph)