Kanye West ready to launch his own memecoin

Kanye West has confirmed on X that his long-anticipated coin, YZY, will officially launch next week as the rapper clarifies that all currently circulating YZY tokens are fake.
Just a day before this announcement, betting markets on Polymarket had surged, with odds spiking to 83% and trading volumes exceeding $9.3 million, reflecting widespread anticipation for the authentic YZY coin, reports Cryptopolitan.
Designed as the official currency for his Yeezy brand, YZY will allow holders to make purchases directly on the Yeezy website. The announcement has intensified trader interest, with many awaiting the release of the genuine token contract address to differentiate it from the numerous imitations proliferating online.
Market Reaction and Impact on Fake Tokens
In the days leading up to Kanye West’s announcement, several fake YZY tokens emerged on Pump.fun, with one token even reaching a market cap of $15 million and generating $33 million in trading volume over 24 hours. However, as soon as West announced the planned launch time of 2:21 AM UTC for the real YZY coin, the market for these counterfeit tokens began to collapse dramatically.
According to DexScreener data, the market cap of one such token dropped sharply from $15 million to $648,000, though it later recovered slightly to around $2.21 million as traders now eagerly await the real coin’s release. The debate over the launch platform continues, with uncertainty whether the official YZY coin will debut on Solana or Base.
As Kanye’s announcement reshapes market expectations, investors and industry watchers remain focused on how the launch will impact the broader ecosystem and whether the new coin can capture the same level of hype as its fraudulent counterparts.
Recently we wrote, that Solana’s price continues to slide below $200 amid a surge in rug pulls on meme coins launched on its blockchain, prompting alarm among investors.