LIBRA co-creator launches new memecoin

Hayden Davis, one of the creators of the official Melania (MELANIA) memecoin and the Libra token, has introduced a new memecoin on the Solana blockchain, over 80% of which was controlled by insiders.

On March 8, Davis launched the Wolf (WOLF) token, taking advantage of rumors that Jordan Belfort, known as the "Wolf of Wall Street," was allegedly preparing his own crypto asset.

At its peak, WOLF's market capitalization reached $42 million. However, according to the analytics platform Bubblemaps, 82% of the token's supply belonged to a single entity. On March 15, Bubblemaps reported:

"The bubble map revealed an interesting pattern: $WOLF had the same on-chain template as $HOOD — another token created by Hayden Davis. Could he also be behind this project?"

Analysts discovered that funds from 17 different addresses were eventually directed to the "OxcEAe" wallet, which belongs to Davis.

"He funded these wallets months before the launch of $LIBRA and $WOLF, transferring funds through 17 addresses and two different blockchain networks," the source noted.

According to reports, on the day of its launch, WOLF's market capitalization stood at $42.9 million, but it has now dropped to $570,000.