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Red Kitten Crew, a Solana-based memecoin, crashed after posts promoting the token appeared on Roaring Kitty’s verified X account and were later deleted.
The posts included RKC’s ticker and contract address, briefly driving heavy buying before traders began questioning whether Keith Gill, known online as Roaring Kitty, had actually endorsed the token.
Developer Wallets Held 39.52% of RKC Supply
On-chain analysts traced large early buying and selling to wallets linked to the token’s developer. Lookonchain said the developer used 10 wallets to spend 20 SOL, worth about $1,950, to buy 395.18 million RKC. That represented 39.52% of the token’s total supply.
Those wallets later sold the full position for 5,071 SOL. The developer also collected 1,209 SOL in creator fees. Reports valued the total cash-out between roughly $611,000 and $729,000, depending on the SOL price used and whether creator fees were included.
RKC Fell as Much as 90% After Posts Were Deleted
RKC’s price collapsed after the Roaring Kitty posts disappeared and developer-linked wallets sold their holdings. Reports said the token fell as much as 90% from its spike, wiping out most of the short-lived rally.
The crash left some traders with steep losses. One buyer reportedly lost nearly $190,000 after entering during the hype and selling after the price broke down. The move highlighted how quickly liquidity can disappear when a memecoin rally depends on one high-profile social media signal.
Gill Has Not Confirmed RKC Endorsement
There has been no clear confirmation that Gill personally promoted RKC. Reports said the posts appeared on the verified Roaring Kitty account, but the quick deletion and unusual promotion of a Pump.fun-style token led many traders to suspect the account may have been compromised.
That distinction is central to the story. RKC’s rally appeared to depend almost entirely on the perceived Roaring Kitty connection, not on a product, utility or broader market development.
For traders, the collapse is another warning about celebrity-linked and influencer-linked tokens. Concentrated developer supply, fast wallet sales and unclear account control can turn a viral memecoin launch into sharp losses within hours.
