The onchain sleuth claimed that team wallets “sniped” 90% of the token supply by buying it from the liquidity pool just after launch.
The team behind rapper Sexyy Red’s PRESI token “sniped” or quickly bought more than 90% of the token’s supply at launch, according to a social media post from onchain sleuth ZachXBT. The post was made in reply to a now-deleted X post from Sexyy Red herself.
“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.
A previous token offered by the rapper also had 82% of its supply bought up by the team at launch, ZachXBT claimed. He listed an address ending in “jCns” as a “consolidation address” where the tokens became stored. Blockchain data shows that this address holds approximately 82% of the total supply of that previous token. Cointelegraph could not determine whether the previous token was promoted by Sexyy Red.