Roaring Kitty-linked RKC memecoin crashes as developer cashes out $729K
A Solana memecoin linked to Roaring Kitty’s X account crashed after its developer cashed out $729,000, raising hack and sniping concerns.
The developer of a new Solana-based memecoin cashed out about $729,000 after Keith Gill’s Roaring Kitty X account posted the token’s ticker and contract address, triggering a short-lived trading frenzy before the post was deleted.
Following the now-deleted X post from Gill’s account, Red Kitten Crew (RKC) briefly surged to an $11 million market capitalization before falling about 67% to $3.6 million at the time of writing, according to Dexscreener.
The token’s developer sold about $611,000 worth of RKC and collected another $118,000 in creator fees through Pump.fun, bringing the total exit to roughly $729,000, according to blockchain analytics company Lookonchain. Lookonchain said the developer initially used 10 wallets to buy 395.18 million RKC, representing 39.52% of the token’s supply, raising concerns that the launch was dominated by creator-linked wallets before retail traders entered.