A brand new meme coin known as Wolf (WOLF) launched on March 8, briefly reaching a $42 million market capitalization earlier than crashing by over 99% in simply two days.
The venture was created by Hayden Davis, who had beforehand been concerned within the Libra (LIBRA) token and Official Melania Meme (MELANIA).
WOLF’s collapse adopted an identical sample to LIBRA, which misplaced billions in market worth inside hours after eight insider wallets withdrew $107 million in liquidity. LIBRA’s failure even turned a political subject when Argentine President Javier Milei confronted impeachment dangers after selling the token.
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Davis launched WOLF on Solana
$127.06
, making an attempt to capitalize on hypothesis that Jordan Belfort, often known as the “Wolf of Wall Avenue”, was planning his personal token. Nevertheless, blockchain knowledge confirmed that 82% of WOLF’s provide was managed by a single entity, elevating issues about insider exercise.
On March 15, analytics agency Bubblemaps identified similarities between WOLF and one other token linked to Davis, stating:
The bubble map revealed one thing unusual—WOLF had the identical sample as HOOD, a token launched by Hayden Davis. Was he behind this one too?
Additional evaluation traced WOLF’s funds to 17 completely different addresses, all related to a pockets labeled “OxcEAe”, which was reportedly managed by Davis.
In line with Bubblemaps, he had moved cash by means of these wallets months earlier than launching WOLF and LIBRA.
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Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Conflict II period.With near a decade of expertise within the FinTech business, Aaron understands the entire greatest points and struggles that crypto fans face. He’s a passionate analyst who is anxious with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to particular person for every part and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the area as we all know it, and make it extra approachable to finish rookies.Aaron has been quoted by a number of established retailers, and is a broadcast writer himself. Even throughout his free time, he enjoys researching the market developments, and searching for the subsequent supernova.
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