The developer of a Solana-based memecoin, Red Kitten Crew (RKC), cashed out approximately $729,000 after Keith Gill's (Roaring Kitty) X account posted the token's ticker and contract address, triggering a short-lived trading frenzy. The post was deleted shortly after. According to Dexscreener, RKC briefly surged to an $11 million market cap before falling about 67% to $3.6 million. Blockchain analytics company Lookonchain revealed that the developer sold about $611,000 worth of RKC and collected another $118,000 in creator fees via Pump.fun. The developer initially used 10 wallets to buy 395.18 million RKC, representing 39.52% of the supply, raising concerns of a coordinated sniping effort where creator-linked wallets front-ran retail buyers. The incident highlights risks associated with celebrity-linked memecoin launches, where a single social media post—or a suspected account compromise—can drive sharp price movements before early holders cash out. Additionally, a trader lost nearly $190,000 within an hour trading RKC, underscoring the perils of concentrated supply.

Key facts

• Developer cashed out $729K after Roaring Kitty's X post, later deleted.
• RKC token surged to $11M market cap then crashed 67%.
• Developer used 10 wallets to acquire 39.52% of supply before public.
• One trader lost $188,600 in one hour on RKC trade.
• Incident highlights risks of celebrity-linked memecoin launches.

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