Hayden Davis is once again attracting attention from the crypto community with his latest meme coin, $WOLF.
The Rise and Fall of $WOLF
The launch of $WOLF sparked excitement, supported by the WallStreetBets community. The token's market cap surged to $40 million in days but quickly plummeted by nearly 99%, now valued around $481,000. Blockchain analysis revealed that a small group of wallets controlled 82% of the tokens, raising concerns about a potential scam. Working with journalist Coffeezilla, Bubblemaps traced the token’s origin back to Davis' wallet.
$WOLF: Another Scam or Legit Opportunity?
Evidence suggests $WOLF mirrors previous patterns by Davis with his meme coins. The token was heavily promoted on X, spiking interest and subsequent value collapse. Bubblemaps' findings revealed that wallets funding $WOLF were established well in advance, indicating Davis' awareness of manipulation possibilities.
A History of Controversy
Davis has connections with multiple failed meme coins, including $LIBRA, which collapsed after endorsement by Argentine President Javier Milei. The $LIBRA crash followed a trillion-dollar market cap surge. Davis' ventures highlight the need for regulation in meme coins within the cryptocurrency space.
The $WOLF case emphasizes the importance of caution when investing in meme coins and other crypto assets.
