Kanye West's retweet sent the meme coin YZY skyrocketing to $180 million before it crashed again.

OnchainDetective · 2025-11-06T05:11:44+00:00

Kanye West retweeted the meme coin YZY contract address, causing the market capitalization to rise from zero to $180 million, and then the price quickly dropped to $25.5 million. This event highlights the impact of celebrity effects in the crypto market and that meme coin price fluctuations are primarily driven by emotions, which are often difficult to sustain.

OnchainDetective

2025-11-06 05:11:44

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Yesterday, a big drama unfolded in the community - Kanye West retweeted a post containing the meme coin YZY (Swasticoin) contract Address, and without saying anything, this one action directly pushed the market capitalization of this new coin from zero to 180 million dollars.

But the story doesn't end here. A few hours later, the price plummeted, finally stabilizing at 25.5 million USD, trapping those who invested. A typical meme coin trick — a nod from a celebrity can create a rocket-like surge, followed by an immediate steep drop.

Why is this happening?

In short, this is the real portrayal of the celebrity effect in the crypto market. It's not just Kanye; several of Musk's previous tweets about Dogecoin can also directly influence coin prices. These data tell us a heartbreaking fact:

The value of meme coins does not fundamentally come from the fundamentals, but from emotions and hype. A retweet from a big influencer can trigger FOMO, but how long can this hype last? Usually no more than a few hours.

This wave of YZY's story is another living example - high risk, high return, but the ones making money are always those who entered early.

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