ZachXBT: 90% of PRESI token supply ‘sniped’

ZachXBT, a pseudonymous blockchain security expert with approximately 605,000 X followers claimed on X that the team behind the PRESI token, led by Sexyy Red, “sniped” 90% of the PRESI token supply at launch. Another token previously offered by the rapper had 82% of its supply bought up at the time of token launch. The price of the PRESI token rose from 0.000045 SOL (about $0.0067) in the first 75 minutes at launch, reaching a high of 0.01 SOL (about $1.48), and then plummeted by more than 50% again shortly after.