Kanye West will launch his memecoin YZY next week

In a recent X post, Kanye West announced that he will launch his coin YZY next week. He also clarified that all the current coins are fake.

Just a day before this announcement, the odds of Kanye launching a coin spiked to 83% on Polymarket with over $9.3 million in volume.

https://twitter.com/kanyewest/status/1893123962428891160

Kanye West has been preparing to launch YZY as an official currency for his brand Yeezy, and holders of this coin will be able to make purchases on Yeezy’s website. Due to the hype revolving around YZY, traders have been desperately waiting for the launch.

Over the last few days, several fake YZY coins were launched on Pump.fun, among which one token achieved a market cap of $15M with $33M in volume over the last 24 hours. Traders were partly convinced that this token was real. When Kanye’s announced his plans for the real YZY’s launch at 2:21 AM UTC, the fake coin’s market cap rapidly fell to $648k, according to DexScreener’s chart. It sits at a market cap of $2.21 million at press time, as degens now wait for the real token’s contract address. It is not yet fully confirmed if Kanye will launch his coin on Solana or Base.