TechFlow News: On May 12, according to on-chain analytics platform Lookonchain (@lookonchain), Roaring Kitty posted about RKC and then deleted the post, causing RKC’s price to plummet by 90%. Meanwhile, RKC developers had previously cashed out a total of 6,260 SOL—approximately $611,000. Specifically, they used 10 wallets to purchase 395.18 million RKC tokens for 20 SOL, acquiring 39.52% of the total supply; they later sold all of these tokens for 5,071 SOL—approximately $495,000. Additionally, they collected 1,209 SOL in creator fees—approximately $118,000.
Earlier reports indicated that Roaring Kitty—the “King of Meme Stocks”—had his official X account compromised early this morning, resulting in the posting of the Red Kitten Crew (RKC) token contract. This caused RKC’s market cap to briefly surge to $12 million before crashing to $1.8 million. Roaring Kitty appears to have since regained control of the account and deleted the tweet containing the contract address (CA). Although he has not issued an official clarification, the community widely believes the CA was posted due to the account being briefly compromised.
