The meme coin YZY MONEY, linked to rapper Kanye West, has stirred up the market, engaging many high-profile traders and causing sharp price fluctuations.
Discussion of Meme Coin YZY MONEY
YZY MONEY went viral after appearing on Kanye West's official account, triggering a 1,400% surge and a market cap of $3 billion. However, as predicted, the rally was short-lived. YZY's price has dropped more than 44% in the last 24 hours to trade at $0.6571.
Implications of Andrew Tate's Trades
Andrew Tate opened a 3X short position on YZY at $0.8524. Currently, he sits on an unrealized profit of $41,575.82, marking over a 91% gain since opening the position. Tate has also been actively trading on the Hyperliquid platform, recording a total loss of $699K out of 80 trades with a win rate of 36.25%.
Financial Consequences for Traders
According to Nansen, 13 wallets made a combined profit of $24.5 million by dumping tokens onto the market. Among 56,000 wallets that interacted with YZY, only 99 still hold the token, while two of them have losses exceeding $1 million.
The situation with YZY MONEY illustrates how meme coins can rapidly rise and fall, leaving small investors with losses while more experienced traders might benefit from speculative trading.
