‘Visible shaking’ founder memecoin fell 90% during the release of live slots

The founder of Rizz memecoin put his cryptocurrency on live stream on X.com when the price suddenly dropped by 90% as viewers watched in shock.

BubbleMaps CEO Nicholas Wyman joined the scene before the crash and was candid about the events that unfolded. Bubblemap Maps posted a thread on X describing events under the heading “This Place Was Wild.”

According to the Bubble Maps thread, $RIZZ was launched on the Solana platform last week. The team wrote: “For a cool $8M, the founder was invited to launch his token on a live platform. However, as BubbleMaps puts it, “things quickly went south.

The Bubblemaps team asked about “bubbles” – seemingly small clusters of holdings on the coin's bubble map. The thread also stated that “their team quickly confirmed that they controlled over 80% of the supply.”

At Bubblemaps, “Looking at initial transactions, it seems that most of the sales came from early shooters who were able to buy within the first few minutes of the token's launch.”

Cointelegraph caught up with Bubblemaps CEO Nicolas Wyman, who told us that he wasn't originally invited to the space and joined by accident. According to him, the founder became emotional during the event.

“When the price went down, I felt Riz's founder was emotional, and I didn't feel comfortable asking questions. At one point I thought he might be crying.

Wyman also said that Reese's founder, “Rick,” is “not really in charge,” the source said.

“Instead,” says Wyman, “a group of devs from Singapore, known for creating meme coins and rugs, ran things.”

“These divs try to maintain a large portion of the supply by accepting tokens from initial deploying wallets and fresh wallets supported by centralized exchanges. This makes tracking wallets difficult, but time analysis reveals connections as they drop tokens very early.”