4 Red Flags That Make NYC Token’s Crash Look Like a Rug Pull

Former New York City Mayor Eric Adams’ NYC meme coin has drawn heavy criticism from the crypto community after plunging more than 80%, pushing its market capitalization below $100 million. While both Adams and the project’s team deny any wrongdoing, unusual liquidity movements raised red flags, prompting some analysts to characterize the token as a potential rug pull. In an exclusive interview with BeInCrypto, a Nansen analyst outlined 4 reasons why NYC token appears to fit the broader definition of “rug pulls. ” Around 60% of Traders Suffer Losses Following NYC Token Meltdown Earlier this week, BeInCrypto reported that Adams revealed the token at Times Square source: https://beincrypto.com/nyc-token-crash-rug-pull-4-red-flags/