Multiple RFC-linked wallets dumped massive positions this week, triggering a sharp sell-off and panic across crypto markets.
Yet despite the chaos, analysts argue the meme coin’s broader bullish structure remains intact.
RFC Whales Dump, Provoke 40% Price Drop
Retard Finder Coin (RFC) token price is down by nearly 40% to trade for $0.052 as of this writing. This marks a brutal reversal from its previous meteoric rise, considering the token’s recent 1,000% surge, fueled by memes, Elon Musk, and whales.
RFC Price Performance. Source: CoinGecko
The drop follows a series of large liquidations traced to related wallets. According to on-chain analyst Crypto Fries, the sell-off began when a cluster of group wallets offloaded significant RFC holdings in a coordinated and synchronized move. The wallets in question sold over 200,000 tokens.
Reportedly, all proceeds eventually flowed into a single Binance deposit address. This suggests coordinated liquidation, with the event triggering what analysts called a “needle” on the OKX Web3 K-line chart, reflecting a flash crash and rebound.
“Viewing the K-line in the OKX web3 browser, panic triggered a needle,” wrote Crypto Fries.
RFC price forms a needle on OKX. Source: Crypto Fries on X
Analysts Remain Bullish on RFC Price
Despite the crash, some analysts remain cautiously optimistic. Among them is trader Milan.btc on X (Twitter), who cited a quick recovery as the RFC price lower wick tested a critical support.
“RFC looks weak short-term, but the macrostructure is untouched. Wick below support, quick recovery—that’s what we call spring,” he stated.
According to the analyst, Retard Finder Coin could ascend to a market cap above $100 million. According to data on CoinGecko, the RFC token had a market cap of $50,216,279 as of this writing.
The token’s sharp volatility mirrors its unconventional origin story. RFC was born out of a controversial meme culture rooted in satirical takes on American social politics.
It gained traction largely through the @IfindRetards X account, which garnered the attention of Elon Musk and his mother, Maye Musk. Both of them interacted with the content and helped push it into viral territory.
Top holders like analyst Wolfy_XBT have remained vocal in their support, highlighting the psychological rollercoaster of holding the RFC token through its highs and lows. Wolfy detailed his journey from buying a similar meme coin called Retard to fully pivoting into RFC after its launch by the same viral X account.
He cited Musk’s interaction with the meme’s narrative and the broader “attention economy” as key factors behind his conviction.
“I only ask myself two questions before buying a meme. Can it attract widespread attention? Is it short-term or long-term attention? RFC ticks both boxes,” Wolfy wrote.
This aligns with what Justin Sun considers before buying meme coins. As BeInCrypto reported, the Tron founder and Huobi Global advisor prioritize a meme coin’s ability to capture public attention before investing.
He also evaluates genuine community engagement, not just follower counts, and believes meme coin success requires significant effort, similar to developing major crypto platforms.
“I will check on the real social engagement. Are those likes real, or it’s just general bullshit? Do they have lots of influence, and the people really believe them? Also, I will see the founders, see their material, and see the memes they made and the videos they made. I will see if this is the right video and the right social engagement,” Sun articulated.
Still, Wolfy_XBT acknowledged the recent volatility and recommended gradual profit-taking around the $50 million to $60 million market cap zone.
While the liquidation wave exposed RFC’s fragility in the face of whale exits, the rebound, presented as a needle on the OKX exchange, hints at enduring retail interest. The project still commands significant mindshare on social media, with searches on Google Trends climbing.
RFC Mindshare. Source: Google Trends
Noteworthy, for a token built on memes and controversy, the line between cult status and collapse is razor-thin.
