A new meme coin called Wolf (WOLF) launched on March 8, briefly reaching a $42 million market capitalization before crashing by over 99% in just two days.
The project was created by Hayden Davis, who had previously been involved in the Libra (LIBRA) token and Official Melania Meme (MELANIA).
WOLF’s collapse followed a similar pattern to LIBRA, which lost billions in market value within hours after eight insider wallets withdrew $107 million in liquidity. LIBRA’s failure even became a political issue when Argentine President Javier Milei faced impeachment risks after promoting the token.
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Davis released WOLF on Solana
$126.84
, trying to capitalize on speculation that Jordan Belfort, known as the “Wolf of Wall Street”, was planning his own token. However, blockchain data showed that 82% of WOLF’s supply was controlled by a single entity, raising concerns about insider activity.
On March 15, analytics firm Bubblemaps pointed out similarities between WOLF and another token linked to Davis, stating:
The bubble map revealed something strange—WOLF had the same pattern as HOOD, a token launched by Hayden Davis. Was he behind this one too?
Further analysis traced WOLF’s funds to 17 different addresses, all connected to a wallet labeled “OxcEAe”, which was reportedly controlled by Davis.
According to Bubblemaps, he had moved money through these wallets months before launching WOLF and LIBRA.
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Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
