Meme Agency crash: $10M Solana Memecoin to $129K in 100 Minutes
The Meme Agency crash took $MEMEAGENCY from about $10M to $129K on October 6. On-chain sleuths say the wallet that funded the creator also paid the big sellers' gas.
Early story. Some claims here are not officially confirmed yet. We update this post as it confirms.
- Trenchbook, which reads Solana transactions directly, says $MEMEAGENCY was worth about $10 million at 6:55 AM ET on October 6 and about $129,000 by 8:38 AM ET.
- A wallet shortened to FMs5…1ME6 funded the creator one second before launch, then paid gas to the two largest sellers and received about 406 SOL back from them.
- CoinUFO's automated scanner flags 54 insider wallets, a 99% price drop and a 98% liquidity drop from the peak. Nobody has been named, and the team has not responded publicly.
The Meme Agency crash took about 100 minutes. On October 6, the Solana memecoin $MEMEAGENCY went from roughly $10 million in market value to roughly $129,000, and an on-chain investigation says the same wallet that funded the coin's creator also paid gas for the two biggest sellers and collected their SOL.
What actually happened
$MEMEAGENCY (Meme Agency) was created on pump.fun on October 4 and graduated to a PumpSwap pool within about a minute, according to CoinUFO's timeline. The token's own description pitches "big ideas, questionable plans, and plenty of laughs." In hindsight, the questionable plans part aged well.
The coin ran hard for two days. CoinUFO logs its all-time high of about $0.00998 at 10:54 UTC on October 6, which lines up with Trenchbook's roughly $10 million valuation at 6:55 AM ET. Then the floor fell out.
Trenchbook read every trade in the main pool between 7:00 and 7:05 AM ET. In that window, 633.7 SOL left the pool and the price dropped about 67%. Two wallets did most of the damage: one sold for 227.67 SOL, the other for 179.66 SOL.
How the exit was staged
This is where the Meme Agency crash stops looking like normal panic selling. According to Trenchbook, one second before the first big sell, FMs5…1ME6 sent the seller 0.01 SOL for gas. One second later, another wallet moved 1.22 million tokens into the seller. The seller dumped its entire bag the next second and sent 227.22 SOL to FMs5…1ME6 three seconds after that.
Two minutes later, the second seller ran the exact same play: gas from the hub wallet, tokens moved in, sell, then 179.03 SOL sent back. About 85 minutes later a second wave hit. Between 8:24 and 8:31 AM ET another 318 SOL left the pool and the price fell roughly 88% more. The four biggest sellers in that wave each forwarded their SOL to the same hub within seconds.
Same wallet funds the dev, pays the sellers' gas and catches the SOL. Ser, that is not a coincidence, that is a pipeline.
The link to the creator goes back to launch. Trenchbook says FMs5…1ME6 sent the creator wallet 3.13 SOL one second before the coin was created, and the creator's fee collections were later paid out to the hub, including 65.77 SOL on the evening of October 5.
What we do not know
Trenchbook is careful here, and so are we. The data shows the wallet links. It does not show who holds the keys to FMs5…1ME6, and no person has been named. The hub wallet is also very busy, with about 1,000 transactions in roughly 90 minutes, a pattern that can belong to an exchange or payment service. Trenchbook's argument is that a service would not fund a creator a second before launch and pay sellers' gas a second before they sell.
CoinUFO's scanner adds context but is automated. It shows mint and freeze authority revoked, LP tokens locked or burned and the creator wallet holding 0%. That is exactly why the Meme Agency crash is a useful lesson: the classic rug checklist can look clean while supply sits split across dozens of linked wallets. CoinUFO counts 54 of them.
There is also a copycat problem. CoinUFO lists three other tokens using the $MEMEAGENCY ticker, and a DexPaprika pool page for one of them shows a different contract with only a few thousand dollars of liquidity. Always check the full mint address.
What to do as a reader
First, if you held $MEMEAGENCY, check which contract you actually own. The tracked token is CyChQHfYv6Cn8rP1myNFhdVCGq25Fcah6wzTkiu9pump, and the same ticker is used by several other contracts. You can look it up on Solscan and read the full wallet trail in the Trenchbook dispatch.
Second, stop treating "LP burned, mint revoked" as a safety badge. Those checks only rule out the oldest tricks. Look at how many wallets share a funding source with the creator and how much supply they hold together. If a scanner says "insider wallets detected," take it seriously.
Third, remember the pattern. We saw a similar pump-then-vanish arc on Robinhood Chain in our Hood Inu crash recap, and launchpad drama is a recurring theme in our pump.fun callout coverage. Coins that rip in 48 hours can unwind in five minutes.
The Meme Agency crash is not a reason to panic about every launch, but it is a reason to size tiny and assume insiders know more than you. Not financial advice. DYOR, ser, and never ape a ticker without checking the contract.
Not financial advice. DYOR, ser.
