Sexyy Red’s new token, PRESI, was accused of being a possible pump and dump, as ZachXBT claimed that 90% of the supply was purchased by insiders.
The onchain sleuth claimed that team wallets “sniped” 90% of the token supply by buying it from the liquidity pool just after launch.
“Hilarious your team just sniped like 90% of the PRESI total supply at launch,” Zach stated. He provided a list of addresses that purportedly belonged to team members who had purchased the token. On July 2, she took to X to promote a new Solana token called “President Red,” with the ticker symbol “PRESI” and a contract address that ends in “SsUp.” The post contained a video showing a rocket ship taking off and the phrase “to the moon,” along with “Solana.”) to 0.01 SOL per coin in the first 75 minutes after launch. It then immediately crashed by more than 50%, falling to 0.0042 SOL per coin, according to data from crypto charting platform DEXScreener.
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