Kanye West launched a new cryptocurrency token named $YZY on the Solana blockchain, which quickly reached a fully diluted valuation of $3 billion within 30 minutes of going live. The token experienced a rapid surge in trading volume, with $83.6 million in perpetual volume reported on the Hyperliquid exchange. Kanye West added 30 million $YZY tokens, valued at approximately $33.81 million, to a liquidity pool with a price range set between $3.17 and $4.49, enabling him to earn fees if the price exceeds $3.17 and triggering a full token sale if it crosses $4.49. Despite the initial hype, the token's price dropped sharply by over 70% within two hours after peaking, leading to losses for more than 60% of the 56,050 traders involved. Among these, 523 traders lost between $10,000 and $100,000, while 64 traders lost between $100,000 and $1 million. Only 38% of traders, or 11,759 wallets, recorded profits. Analysis revealed that 13 wallets profited over $24 million by dumping $YZY tokens, with insiders and snipers linked to previous Solana memecoin projects such as $TRUMP and $LIBRA implicated in early accumulation and profit-taking. The first buyer of the $YZY token had a history of making $100 million trading the $TRUMP token. These developments have raised concerns about insider trading and market manipulation within the Solana memecoin sector. Meanwhile, the $YZY token's price decline contrasted with an increase in Ethereum's value by 15% on the same day.