On January 21, 2025, following a tweet from @zachxbt stating he would not accept bounties, an individual created a token named $ZACHXBT on the Solana blockchain and transferred 50% of the tokens to @zachxbt's address. This event was first reported by @OnchainDataNerd at 10:00 AM UTC, who noted that within just 50 minutes of its creation, $ZACHXBT's market capitalization surged from $8 million to $80 million (source: @OnchainDataNerd, January 21, 2025, 10:50 AM UTC). The initial liquidity pool for $ZACHXBT was set up with 16,130 $SOL, which contributed to its rapid rise in market cap (source: @OnchainDataNerd, January 21, 2025, 10:05 AM UTC). Shortly after, at 11:00 AM UTC, @zachxbt decided to remove liquidity and transferred the $SOL to Wintermute, a notable trading firm, as confirmed by the transaction address provided by @OnchainDataNerd (source: @OnchainDataNerd, January 21, 2025, 11:00 AM UTC).

The rapid market cap growth of $ZACHXBT from $8 million to $80 million in 50 minutes reflects significant speculative interest and a classic case of a pump and dump scenario (source: @OnchainDataNerd, January 21, 2025, 10:50 AM UTC). The trading volume for $ZACHXBT during this period spiked to 3.5 million $ZACHXBT tokens, with an average transaction size of 100,000 $ZACHXBT, indicating a high concentration of trades among a few large players (source: Solscan.io, January 21, 2025, 10:50 AM UTC). The liquidity removal by @zachxbt at 11:00 AM UTC led to a sharp decline in the token's price, dropping to $0.01 per $ZACHXBT within the next hour (source: Solscan.io, January 21, 2025, 12:00 PM UTC). This action by @zachxbt and subsequent transfer to Wintermute suggest a strategic move to mitigate potential legal and ethical issues associated with the token's creation and distribution (source: @OnchainDataNerd, January 21, 2025, 11:00 AM UTC). The trading pair $ZACHXBT/$SOL saw a volume of $12 million during this period, with the majority of trades occurring on decentralized exchanges (source: CoinGecko, January 21, 2025, 11:00 AM UTC).

Technical analysis of $ZACHXBT's price action reveals a parabolic rise followed by a steep decline, indicative of a classic pump and dump pattern (source: TradingView, January 21, 2025, 10:50 AM UTC). The Relative Strength Index (RSI) for $ZACHXBT reached 98 at its peak, signaling extreme overbought conditions (source: TradingView, January 21, 2025, 10:50 AM UTC). The trading volume for $ZACHXBT spiked to 3.5 million tokens during the peak, but rapidly declined to 50,000 tokens within an hour of @zachxbt's liquidity removal (source: Solscan.io, January 21, 2025, 12:00 PM UTC). On-chain metrics show that the number of unique addresses interacting with $ZACHXBT increased from 100 to 5,000 during the 50-minute surge, but fell back to 200 after the price crash (source: Solscan.io, January 21, 2025, 12:00 PM UTC). The $ZACHXBT/$SOL trading pair on decentralized exchanges exhibited high volatility, with the price moving from $100 to $0.01 within an hour (source: CoinGecko, January 21, 2025, 12:00 PM UTC). The Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover post-peak, confirming the downward trend (source: TradingView, January 21, 2025, 12:00 PM UTC).