ZachXBT reports that Rapper Sexyy Reds team acquired 90 of PRESI token during its launch

The creators of rapper Sexyy Red’s PRESI token swiftly acquired over 90% of the token’s supply at its launch, as revealed in a social media post by blockchain investigator ZachXBT. This disclosure came as a response to a now-deleted post by Sexyy Red herself.
Zach humorously pointed out, “It’s quite comical how your team managed to snag approximately 90% of the PRESI total supply right from the start.” He proceeded to provide a list of addresses associated with team members who participated in buying the token.
According to ZachXBT, in a previous token launch by the rapper, the team also secured 82% of the token supply at the outset. He identified an address that ends with “jCns” as a “consolidation address” where the tokens were stored. Data from the blockchain indicates that this address holds about 82% of the entire supply of the previous token. It remains uncertain if the earlier token was endorsed by Sexyy Red.
Rapper Janae Wherry, professionally known as “Sexyy Red,” gained fame for hit singles like “Rich Baby Daddy,” “Looking for the Hoes (Ain’t My Fault),” and “Bow Bow Bow (F My Baby Dad).” On July 2, she utilized X to introduce a new Solana token named “President Red,” bearing the ticker symbol “PRESI” and a contract address ending in “SsUp.” The promotional post featured a video of a rocket launch with the caption “to the moon,” in addition to mentioning “Solana.”
Soon after its release, the PRESI token experienced a rapid surge in value, leaping from 0.000045 Solana (SOL) (equivalent to roughly $0.0067) to 0.01 SOL ($1.48) per coin within the initial 75 minutes. However, it swiftly plummeted by more than 50%, dropping to 0.0042 SOL ($0.62) per coin, as reported by crypto charting platform DEXScreener.
ZachXBT indicated in his post that the sudden price spike was partly due to substantial purchases of the token made by the team members. Blockchain data reveals that some of the team member addresses mentioned acquired significant amounts of PRESI from the liquidity pool. For instance, the address ending in “svirD” procured nearly 182 million PRESI from the Raydium liquidity pool at 2:43 am UTC on July 2, while the address ending in CBnf simultaneously obtained over 69 million PRESI.
Several of these addresses had prior interactions with a token named “Make America Sexy Again (MASA),” with a contract address ending in “k1M9.” The “consolidation address” highlighted in ZachXBT’s post currently holds almost 819 million MASA tokens, constituting 82% of the total supply.
During meme coin launches, insiders frequently buy large quantities of the coin to later sell for profit, causing a subsequent price crash. It remains uncertain whether any wallets within this cluster eventually sold their PRESI tokens, or if they indeed belonged to team members.
Responding to his own post, ZachXBT expressed surprise at the volume of tokens allegedly acquired by this group of wallets. He remarked, “[B]uying up 90% of the supply is simply amusing tbh,” and noted in another comment, “we began at around 20-30%, and now it’s at 90%.”
Critics often criticize celebrity meme coin launches as pump-and-dump schemes. On June 5, Ethereum founder Vitalik Buterin outlined several criteria for evaluating whether a celebrity token provides value to its holders and the crypto community. In his post, he suggested that certain celebrity coins could benefit the community if they support projects such as healthcare, open-source software, art, or other public goods.
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