Founder Shocked as Memecoin Drops 90% During Live Pitch
The creator of the Rizz memecoin found themselves in a dire situation while promoting their cryptocurrency on a live stream on X.com. During the broadcast, the coin’s value unexpectedly nosedived by an astonishing 90%, much to the dismay of the viewers. Present in this live stream was Bubblemaps CEO, Nicolas Vaiman, who witnessed the turbulent events unfold in real time.
Bubblemaps documented the incident through a series of posts on X, capturing the essence of what transpired with a headline stating, “this space was wild.” They revealed that the $RIZZ token had been launched just a week prior on the Solana platform. The token had already garnered a considerable volume of $8 million, prompting the founder to introduce it in a live discussion space. The conversation took an unexpected turn.
The Bubblemaps team raised concerns about the “bubbles” displayed on the coin’s bubble map. These bubbles highlighted significant holdings in a limited number of accounts. In their investigation, they discovered that over 80% of the token supply was controlled by the project team, which was quickly confirmed during the live event.
The team from Bubblemaps noted that the sell-off appeared to originate from early buyers who had managed to acquire the tokens in the initial minutes following the launch. These early transactions were scrutinized for patterns and sources of large dumps. It became evident that the price collapse was not a random occurrence but likely orchestrated by these initial participants.
contacted Bubblemaps CEO Nicolas Vaiman to delve deeper into the situation. Vaiman disclosed that he had not been originally invited to the live discussion and joined by chance. He observed that the founder of Rizz became visibly emotional as the coin’s value disintegrated. Vaiman recalled, “When the price collapsed, the founder of Rizz sounded emotional, and I felt uncomfortable asking questions. At one point, I even thought he might be crying.”
Vaiman also revealed intriguing information from a source who alleged that the person known as “Rick,” the founder of Rizz, was not the one truly in control. According to Vaiman, “Instead, a group of developers from Singapore, notorious for creating meme coins and then abandoning them, were running the show.”
These developers, Vaiman explained, often retain a significant portion of the token supply by utilizing wallets from the initial deployment and then acquiring more tokens with fresh wallets funded through centralized exchanges. This strategy complicates the tracing of transactions, but a detailed analysis of the timing can expose the connections, revealing that these tokens were sniped very early on.
The unfolding of this event cast a shadow over the Rizz memecoin project, raising broader questions about the transparency and intentions of its creators. The incident also served as a cautionary tale for investors, underscoring the risks associated with emerging and potentially unscrupulous cryptocurrency ventures.
As the dust settles, the crypto community continues to scrutinize the actions and motivations of those involved in the Rizz project, awaiting any further disclosures or developments. The live-streamed debacle remains a stark reminder of the volatility and uncertainty inherent in the world of digital assets.
40 thoughts on “Founder Shocked as Memecoin Drops 90% During Live Pitch”
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I feel bad for those who invested in $RIZZ. Being manipulated by whales is never a good look.
Who knew a live stream about $RIZZ would become such a dramatic event? Unreal!
A stark reminder of why diversification in crypto investments is crucial.
It’s essential to do your research before investing! This $RIZZ drama is a perfect example.
This ordeal with $RIZZ truly underscores the importance of holding crypto projects accountable. 🔍
Major props to Bubblemaps for documenting this event in real-time. So important to have transparency!
So the same old developers from Singapore at it again? How many more projects do they need to ruin before action is taken?
The crypto market is never short of surprises. That $RIZZ nosedive though… 😨
Wow… What a disaster! 🚨 How can anyone trust these shady crypto projects anymore? 😡
Oh great, another crypto Ponzi scheme. When will people learn? The industry’s credibility is suffering.
From $8M to almost nothing – can’t believe people are still falling for such obvious schemes. 🤷♂️
Live streaming a coin promotion only to have it crash 90% what an absolute train wreck.
These projects are all hype and no substance. $8 million down the drain, who’s accountable? 😠💣
Wow, what an intense live stream! Can’t believe what happened to the $RIZZ token 😳
Such transparency from Bubblemaps is what the crypto world needs more of! 💯👏
The live stream was 🔥! But man, that decline in $RIZZ was brutal. Hang in there, Rick!
Can we ever trust new projects on Solana again after this? The damage to investor confidence is real.
Kudos to Bubblemaps for their thorough investigation and timely updates. 🕵️♂️
My nerves were shot watching that $RIZZ coin plummet. Heartfelt sympathies to the founder.
The crypto sphere is wild, and this $RIZZ episode proves it once again. Just wow!
Such a cautionary tale for new investors. Thanks for shedding light on the drama, Bubblemaps!
What a rollercoaster! Clearly, the crypto world remains as unpredictable as ever.
Incredible reporting by Bubblemaps! Their posts really captured the whirlwind!
I hope people learn from this disaster and avoid these shady coins in the future. Its all so disheartening.
Such real-time analysis! Thanks to Bubblemaps for keeping us informed. 📊
Always fascinating to see live transparency in crypto! Thanks Bubblemaps for an eye-opening experience.
Watching people get burned by these scams is heartbreaking. Regulators need to step up their game!
Yikes! The emotional turmoil for the $RIZZ founder was evident. Reminds us that crypto isn’t just numbers.
This whole situation is a mess. First, they fake decentralization, then the founder basically melts down on stream.
Bubblemaps did a great job exposing the scam, but why wasn’t this level of scrutiny applied earlier? 🤔🔍
The founder crying on stream? If that doesn’t scream unprofessional, I don’t know what does.
Hope the $RIZZ team recovers from this setback. Tough lesson learned!
Seriously? 80% of the supply controlled by the team? That’s not decentralization, that’s a red flag! Crypto needs more transparency.
The drama was real during that live stream! 😬 $RIZZ went down faster than I could refresh the page!
The $RIZZ founder’s reaction was heart-wrenching. You could feel the tension through the screen.
Bravo to Bubblemaps CEO Nicolas Vaiman for handling the situation professionally
That moment when the $RIZZ token dropped by 90%? My jaw hit the floor!
The revelation about Singapore developers was a bombshell! Insightful observations from Nicolas Vaiman!
This is why I stay away from meme coins. Too many pump-and-dump schemes by greedy developers. 🙅♂️
Kudos to Nicolas Vaiman for stepping in unplanned and providing valuable insights!