BlockBeats News, June 15 - According to crypto KOL ai_9684xtpa's analysis, the flash crash of ZKJ and KOGE tonight might have been a premeditated "harvesting operation." Three primary addresses played a pivotal role in triggering the sequential collapse of ZKJ and KOGE by exerting double pressure through "large liquidity withdrawals + continuous sell-offs":
· Address 0x1A2...27599
At 20:28:21 and 20:33:15, withdrew dual-sided liquidity of 61,130 KOGE (approximately $3.76M) and 273,017 ZKJ (approximately $532K) in two transactions.
Between 20:28:58 - 20:36:57, swapped 45,470 KOGE for ZKJ, valued at $3.796M. During this period, KOGE’s on-chain trading volume surged significantly.
Between 20:30:57 - 20:59:49, sold off 1.573M ZKJ in batches, converting to USDT and BNB, valued at $3.052M, with an average selling price of $1.94.
At this point, both KOGE and ZKJ saw mild but stepwise declines without outright plunges.
· Address 0x078...8bdE7
At 20:30:33, withdrew dual-sided liquidity of 33,651 KOGE (approximately $2.07M) and 709,203 ZKJ (approximately $1.38M).
Between 20:31:10 - 20:58:18, swapped 36,814 KOGE for ZKJ, worth $2.26M.
Between 20:35:15 - 20:37:34, sold off 1M ZKJ, valued at $1.948M, with an average selling price of $1.948.
This address’s "relay-style dump" ultimately triggered a rapid price drop for KOGE.
· Address 0x6aD...e2EBb
At 20:41:55, received 772,759 ZKJ (worth $1.5M) transferred from address 0x078...8bdE7 (the previous dumping address).
Between 20:42:28 - 20:50:16, liquidated 772,000 ZKJ completely.
The main role of this third address was to coordinate; after the collapse of the KOGE price, it further intensified the decline of ZKJ, completing the "harvest" of the two token LPs and token holders.
“Finally: The three addresses mentioned here were the main drivers, but additional "supporting addresses" handling transactions worth hundreds of thousands of dollars were identified as well. These supporting addresses executed similar dumping strategies, but we won’t elaborate on them here.”
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