Zachary Wolk, known as ZachXBT, has publicly accused crypto influencer Zion “Ansem” Thomas of promoting a series of low market cap memecoins.
Zachary Wolk, known as ZachXBT, has publicly accused crypto influencer Zion “Ansem” Thomas of promoting a series of low market cap memecoins, alleging that this behavior could lead to significant financial losses for his followers.
In an exchange on X on October 5, Wolk claimed that Thomas has been involved in a pattern of shilling what he termed “hundreds” of these tokens, which are often characterized by their speculative nature.
The controversy erupted following a discussion about memecoins during Murad Mahmudov’s “Memecoin Supercycle” speech at Token 2049.
Wolk criticized Thomas for his focus on low-cap memecoins, suggesting that such promotions indicate a lack of legitimate market insight. He emphasized the potential risks associated with influencers promoting these coins, noting that Thomas, with over 507,000 followers, holds considerable sway in the market.
Thomas defended his actions, highlighting a notable instance where he promoted the memecoin Dogwifhat (WIF), which surged from a $100,000 market cap to $4.8 billion in value.
He argued that this success was more impactful than promoting utility tokens like Chainlink (LINK), which have seen substantial declines.
Wolk countered by naming specific low-cap coins that Thomas promoted, including BODEN, HOBBES, ZEUS, and WYNN, many of which have experienced significant drops from their all-time highs. BODEN, for instance, is down nearly 99% since its peak.
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