BlockBeats News, May 12th, according to LookIntoChain monitoring, during the GameStop short squeeze event, prominent trader Roaring Kitty (@TheRoaringKitty) posted and then deleted tweets related to RKC, causing a violent fluctuation in RKC's price, which dropped by 90%.

It is reported that the RKC developers used 10 wallets to spend 20 SOL (approximately $1950) to purchase 3.9518 billion RKC, accounting for 39.52% of the total supply, and then dumped all of it to earn 5071 SOL (approximately $495,000). The developers also collected 1209 SOL (approximately $118,000) through creator fees. In total, they cashed out 6260 SOL, approximately $611,000.

BlockBeats previously reported that although Roaring Kitty himself did not confirm whether his X account was hacked, the community generally believes that he released the meme coin because of the hack.