Hayden Davis is once again in the crypto spotlight with his latest venture, the $WOLF memecoin.
The Rise and Fall of $WOLF
$WOLF launched with excitement, promoted by the WallStreetBets community, reaching a $40 million market cap quickly. However, it crashed by nearly 99%, standing now around $481,000. Bubblemaps analysis revealed that 82% of the total token supply is controlled by a small group, sparking rug pull concerns.
$WOLF: Another Scam or Legit Opportunity?
$WOLF appears to follow a pattern seen with Davis's previous ventures. The token saw a swift decline after heavy promotion on X (formerly Twitter). Bubblemaps' investigation showed that $WOLF’s funding wallets were set up months in advance, indicating planned manipulation.
A History of Controversy
Davis is linked to failed memecoins, including $LIBRA, which crashed after endorsement by Argentine President Javier Milei. These scandals highlight the risky nature of memecoins and the need for regulation in this space.
The $WOLF case underscores the risks of investing in memecoins and the need for increased regulation to protect investors.
