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<ul class="news-points">
 <li>Waka Flocka Flame launched the Solana-based meme coin FLOCKA.</li>
 <li>The “celeb coin” trend includes celebrities like Iggy Azalea and Davido.</li>
 <li>Ethereum co-founder Vatalik Buterin criticized the trend, urging a focus on financial innovation.</li>
</ul>
American rapper Waka Flocka Flame is the latest celebrity to launch a meme coin on the Solana blockchain, but the release of his FLOCKA token has been met with controversy and accusations of market manipulation.
On June 17, the Atlanta-born rapper <a href="https://x.com/WakaFlocka/status/1802587106134425948" target="_blank" rel="noopener noreferrer nofollow">shared</a> a ticker and contract address for his new Solana-based meme coin, FLOCKA, to his X (formerly Twitter) followers. He followed the post with a video saying, “We live right now.”
Soon afterward, blockchain investigator ZachXBT responded to the rapper’s post, referencing on-chain data that suggested suspicious market activity. He noted:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Interesting how a fresh wallet funded via exchange sniped ~40% of the supply and dispersed to alt wallets,”
</blockquote>
Following this, some X users have proposed community notes on Malphrus’ post to alert users of potential market manipulation.
According to on-chain data, Flocka was live for over an hour before Malphrus publicized it. Me…
The post <a href="https://coinedition.com/the-dark-side-of-celeb-coins-waka-flocka-flames-flocka-raises-red-flags/" rel="noopener noreferrer nofollow">The Dark Side of Celeb Coins: Waka Flocka Flame’s FLOCKA Raises Red Flags</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

The Dark Side of Celeb Coins: Waka Flocka Flame’s FLOCKA Raises Red Flags

Coin Edition

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