Hayden Davis is once again in the spotlight within the crypto community, following the dramatic rise and fall of the hype-inflated $WOLF token.
The Rise and Fall of $WOLF
The launch of $WOLF was met with frenzy. Backed by the WallStreetBets community, the token's market cap surged to $40 million. However, the value of $WOLF quickly plummeted by nearly 99%, with a current market cap of just $481,000. Blockchain analysis by Bubblemaps revealed that 82% of the total supply was controlled by a small group of wallets, raising concerns about a potential 'rug pull'. Further investigation traced the token to Hayden Davis, resulting in an Interpol Red Notice request.
Another Scam or Legit Opportunity?
Evidence suggests that $WOLF fits a troubling pattern set by Davis with previous meme coins. The token's launch and promotion on X (formerly Twitter) saw it momentarily explode in popularity before crashing. Bubblemaps’ investigation uncovered that wallets funding $WOLF were created months in advance, indicating premeditated manipulation.
A History of Controversy
Davis is linked to other failed meme coins, including $LIBRA, which collapsed after being endorsed by Argentine President Javier Milei. The $LIBRA crash is one of the largest 'rug pull' incidents, with Davis allegedly cashing out nearly $100 million, leaving investors with nothing. His ventures highlight a broader issue of lack of regulation in meme coins, making them ripe for fraud.
The $WOLF case raises questions about the future of meme coins in the cryptocurrency ecosystem. While coins like Dogecoin and Shiba Inu have gained substantial traction, the darker side represented by $LIBRA and $WOLF remains concerning, especially without proper regulation.
