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<h4>The REKT meme token was listed earlier this week, on 20th October. Within 24 hours it made good volume. That was no less than $24.6 million. As a result, some 300 wallets could share around $5 million between them. That would be $16,600 per wallet.</h4> 
So, what happened at the REKT meme token launch? Let’s take a closer look. You can also read our <a href="https://www.altcoinbuzz.io/blockchain-gaming/rekt-game-an-introduction/" target="_blank" rel="noopener">introduction</a> to REKT.&nbsp; 
The REKT token launch was a fair launch. This means that there were no pre-sales. Everybody has the same opportunity during the launch. This also means that owners of a project have to buy their own tokens. 
Even with a fair launch, you still need to DYOR (Do Your Own Research). Due diligence rules, also or especially in crypto. And even more so with meme coins. They can be tricky. They typically peak for a short period at launch, before they crash.&nbsp; 
<h5>Analyzing the REKT Token</h5> 
The analysis was made by <a href="https://bubblemaps.io/" target="_blank" rel="noopener">Bubblemaps</a>. This is a supply auditing tool for DeFi tokens. It uses colored bubbles that represent all the owners of a token. Furthermore, it also shows interactions between wallets.&nbsp;In this case, it showed that the token is available on two chains, Ethereum and BNB. You can see more details in the thread below: 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 REKT made $24,6 million volume in 24 hours. 
 ~300 <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> wallets made a total of $5 million. 
 Here is what happened <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;">(and how <a href="https://twitter.com/bubblemaps?ref_src=twsrc%5Etfw">@bubblemaps</a> can help) <a href="https://t.co/dcVmf40OGy">pic.twitter.com/dcVmf40OGy</a> 
 — dealer.eth (@dealerdefi) <a href="https://twitter.com/dealerdefi/status/1715445583735890379?ref_src=twsrc%5Etfw">October 20, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Exactly as the REKT website mentioned. So, we’re off to a good start here. It had some big guns backing the project. For example, <a href="https://twitter.com/CryptoHayes" target="_blank" rel="noopener">Arthur Hayes</a>, he’s the co-founder of BitMEX and CIO. <a href="https://twitter.com/cryptomanran" target="_blank" rel="noopener">Ran Neuner</a>&nbsp;is also onboard, a CNBC Crypto Trader and founder of Crypto Banter.&nbsp; 
So, let’s take a closer look at other holders, their profits, and what you need to look for, to stay safe. 
<h5>More About REKT</h5> 
It’s good to see that this went according to plan. It was also a fair launch, with 1 million tokens unlocked at TGE. The fully diluted market cap was $1 million at launch. 
<a href="https://www.coingecko.com/en/coins/rektcoin" target="_blank" rel="noopener">CoinGecko</a> starts recording the price of the REKT token on October 20th. It starts out at $14.12 and within four hours it reaches its current ATH of $15.73. According to <a href="https://twitter.com/dealerdefi" target="_blank" rel="noopener">dealerdefi</a> on his X account, that’s an 803% gain.&nbsp; 
We can immediately identify Arthur Hayes’ wallet, and he holds 2%. Another 25.5% is in the hands of the top 20 holders. Something else that we notice, is that most wallets don’t interact with each other. These are all good signs. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 This is the Beta version of the game 
 we incorporated WEB3 metaverse 4D A.I. in this and its FSD (fully self driving) 
 VC Starter Pack #1 <a href="https://t.co/rlXQy83nKm">pic.twitter.com/rlXQy83nKm</a> 
 — $REKT (@rekt) <a href="https://twitter.com/rekt/status/1716006402349813776?ref_src=twsrc%5Etfw">October 22, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This is in contrast with a small, close-knit group of holders, that interact a lot between their wallets. This indicates that the token will most likely do a nose dive, and you’re used as exit liquidity. 
The REKT token appears to be a community-held token. This also means that there’s no sell pressure. Its distribution looks healthy, and it would be safe to ‘ape in’. The token did a x7 within an hour of its listing. Within 24 hours, there was over $5 million profit.&nbsp; 
However, it remains a meme token. If we take a closer look at the current price, it’s down to $6.94. According to <a href="https://coinmarketcap.com/currencies/rektcoin/" target="_blank" rel="noopener">CoinMarketCap</a>, its market cap is $5.1 million. The trading volume is down by 3.22% and is at $1.1 million during the last 24 hours. The circulating supply is 748,874 REKT out of a max supply of 1 million. The token has been on a slide since its ATH. 
<img decoding="async" class="aligncenter wp-image-126626 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-1024x463.jpg" alt="REKT" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-1024x463.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-300x136.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-768x348.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-1536x695.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-696x315.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-1068x483.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_-928x420.jpg 928w, https://www.altcoinbuzz.io/wp-content/uploads/2023/10/FireShot-Pro-Webpage-Capture-215-REKT-Bubblemaps-I-Uncover-Hidden-Links-Between-Holders-app.bubblemaps.io_.jpg 1920w" sizes="(max-width: 696px) 100vw, 696px"> 
Source: <a href="https://app.bubblemaps.io/eth/token/0x4f8b986ecffe7bed5dbeb2b49310fb00ca85a539" target="_blank" rel="noopener">Bubblemaps</a> 
<h5>Conclusion</h5> 
The REKT meme token launched on October 20th. Within 24 hours, it had a trading volume of $24 million. We took a look at how you can identify a DeFi token launch, and see if it’s safe to ‘ape in’. The REKT token had good indicators. To analyze it, we used the Bubblemaps app. However, it remains a meme token, and since its ATH, reached shortly after its launch, it has been on a slide. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="wp-image-124236 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-300x37.jpg" alt="" width="689" height="85" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1.jpg 1197w" sizes="(max-width: 689px) 100vw, 689px"></a> 
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How REKT Made $24.6 Million Volume in 24 Hours?

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