Is YZY really a coin issued by Kanye?

Written by: M7 Research

Introduction

Recently, a meme coin named Swasticoin (YZY) gained significant attention after Kanye West retweeted a post. The tweet contained the smart contract address for $YZY, which sparked heated discussions in the market, causing its market cap to briefly "spike" to $180 million before quickly falling back to $17 million. While some investors interpreted Kanye's retweet as a "validation from the main figure," on-chain data and project background indicate that $YZY was not initiated by Kanye West, and there may be market manipulation behind its price fluctuations.

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M7 Research conducted a detailed analysis of the on-chain dynamics of the top 500 holders of $YZY, revealing the fund flow patterns of the token and the operational methods of major profit clusters, providing market participants with transparent on-chain insights.

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Top 500 Holder Cluster Analysis

On-chain analysis of the top 500 holders of $YZY (excluding centralized exchange and decentralized exchange addresses) was conducted, and a snapshot of the holdings as of 2025-03-15 18:55 (before Kanye's retweet and the rapid price surge) revealed the following 6 major clusters:

1. Green Cluster

• Number of addresses: 101
• Fund Association Model: Internal fund transfers between each other, with associated inflows and outflows.
• Chip Balance: 11.40%
• Snapshot position: 103M $YZY
• Current Position: 106M $YZY
• Profit Situation: Total profit 4364 SOL

2. Blue Cluster

• Number of addresses: 2
• Fund association model: Same fund transfer association.
• Chip Occupancy Ratio: 1.63%
• Snapshot Position: 16.43M $YZY
• Current Position: 15.52M $YZY
• Profit situation: Total profit 573 SOL

3. Yellow Cluster

• Number of addresses: 2
• Fund association model: Internal fund transfers.
• Chip Occupancy Ratio: 1.60%
• Snapshot position: 16M $YZY
• Current position: 16M $YZY
• Profit situation: No significant change

4. Gray Cluster

• Number of addresses: 3
• Fund association mode: Inbound and outbound association.
• Chip Occupancy Ratio: 1.44%
• Snapshot Position: 15.38M $YZY
• Current position: 14.39M $YZY
• Profit situation: Total profit 366 SOL

5. Pink cluster

• Number of addresses: 2
• Fund association model: Internal fund transfers.
• Chip Ratio: 1.03%
• Snapshot Position: 10.33M $YZY
• Current position: 10.33M $YZY
• Profit situation: No significant changes

6. Purple Cluster

• Number of addresses: 2
• Fund Association Mode: Associated with the same funds transfer in.
• Chip Occupancy Ratio: 0.93%
• Snapshot Position: 6.42M $YZY
• Current Position: 9.68M $YZY
• Profit Situation: Significant increase in profits.

On-chain Dynamic Analysis

1. The On-Chain Impact of the Kanye Retweet Incident

On-chain dynamics during the surge phase:

• After Kanye retweeted, the $YZY market capitalization briefly "plugged" to $180 million, and then quickly fell back to $17 million.
• The green cluster completed a large number of sell-off operations during the surge, capturing a major share of the profits.

Profit situation:

• The green cluster achieved the most significant profit, earning 4364 SOL, far exceeding other clusters.
• The blue cluster and the gray cluster achieved profits of 573 SOL and 366 SOL, respectively.

2. Source and flow of funds

Green Cluster Analysis:

• There is frequent capital flow between addresses within the cluster, indicating a high degree of coordinated operation.
• Some funds were transferred to multiple newly created addresses after profiting from the surge, possibly to evade on-chain tracking.

Other cluster analysis:

The capital flow of the yellow, pink, and purple clusters is relatively limited, showing no significant market manipulation behavior.

3. Is Kanye a token issuer?

Smart Contract Creation Analysis:

• The $YZY smart contract was created two weeks before Kanye retweeted it, and the creation address has no on-chain association with Kanye or any of his related projects.
• The source of funds has no intersection with Kanye, ruling out the possibility of Kanye issuing tokens directly.

Twitter Event Analysis:

The retweeted content may have been temporarily modified to a contract address by the tweet publisher, but this assumption cannot be fully verified as Twitter does not have a public comment editing feature.

Conclusion

1. Green clusters dominate the market:

The Green Cluster holds 11.40% of the $YZY chips and maximizes profits through collaborative operations during price surges.

Kanye Non-Token Issuer:

On-chain data clearly shows that the smart contract deployment address of $YZY is unrelated to Kanye, and the retweet event may be a promotional action leveraging his influence.

2. Significant market manipulation behavior:

The on-chain dynamics of the green cluster exhibit a typical "Pump and Dump" pattern, where ordinary investors may suffer losses in the process.

Recommendations from M7 Research

Regarding the on-chain analysis results of $YZY, M7 Research reminds investors:

When participating in hot token investments, one should remain highly vigilant, especially when the token lacks clear project background or team information.

Analyzing on-chain fund flows and position clusters helps identify potential market manipulation behaviors and avoid investment risks.