Insiders Selling YEPE as Price Plummets 25%
On-chain data suggests that insiders are offloading YEPE, a memecoin tied to trader James Wynn. The token, promoted by Wynn, has seen a 25% drop.
YEPE, a BNB-based memecoin, has fallen sharply after insiders began selling. The token, linked to James Wynn, has seen a important correction.
YEPE, a BNB-based memecoin, has dropped 25% after insiders started selling. The token,promoted by Wynn,gained over 400% in days.Wynn, known for ultra-leveraged trades, shared the tokenS address, sparking interest among his followers.
Though, YEPE showed red flags from the start. On-chain data from Bubble Maps revealed that insiders held 60% of the token at launch. This high concentration is usually a warning sign. As was to be expected, insiders began selling on October 8, making $1.4 million in profits by the next day. Despite this, insiders still hold over 50% of the supply.
Memecoin season is back, especially on BNB.But with it comes questionable projects. YEPE’s fall highlights the risks of following high-profile traders without thorough research.
