Red Kitten Crew (RKC) Token Developer Reportedly Moves $600K in Solana Before Crash

Roaring Kitty, the figure behind the 2021 GameStop meme-stock rally, briefly posted “$RKC” on X before deleting it, an action that was followed by a dramatic drop in the value of the Solana-based Red Kitten Crew (RKC) token, which plunged about 90%.

Around the same period, blockchain analytics firm Lookonchain reported significant trading activity tied to the token’s developer. According to its data, the developer had already withdrawn 6,260 SOL (approximately $611,000). They reportedly spent 20 SOL (about $1,950), distributed across 10 wallets, to acquire 395.18 million RKC tokens, roughly 39.52% of the total supply, before later selling those holdings for 5,071 SOL (about $495,000).

In addition, the developer is said to have earned 1,209 SOL (around $118,000) in creator fees from the token.

Source: Lookonchain