According to @BullTheoryio, $NYC trading began at 10:27pm UTC, reached an all-time-high market cap of $587 million by 10:41pm UTC, and the team began pulling liquidity around 10:43pm UTC, with an alleged $3.4 million cash-out within an hour (source: @BullTheoryio). According to @BullTheoryio, the rapid run-up followed by liquidity withdrawal created immediate exit risk and slippage for late entrants, a pattern consistent with rug-pull dynamics that can trigger sharp price collapses (source: @BullTheoryio).

According to Lookonchain, a sharp liquidity pull and aggressive selling activity triggered a significant price decline for ZKJ, resulting in a wave of liquidations that saw six traders each lose more than $1 million on long positions. This event has heightened volatility and risk sentiment across the crypto market, making ZKJ a key focus for short-term traders and increasing attention on liquidation cascades in high-leverage environments (Source: Lookonchain, June 15, 2025).