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JASON, the Solana-based meme coin of famous R&amp;B artist Jason Derulo, has&nbsp;<a href="https://decrypt.co/price/jason-derulo" rel="noopener noreferrer nofollow">lost</a> an eye-popping 97%&nbsp;&nbsp;&nbsp;
In July, Derulo implied that the meme cryptocurrency could end up reaching a market capitalization of $1 billion.&nbsp;
However, the token's actual market cap currently stands at just a minuscule $1.23 million.&nbsp;
It is worth noting that the token was originally launched on Solana-based meme coin factory Pump.fun. Following its launch, the token managed to experience substantial gains. Unsurprisingly, its momentum quickly faded.&nbsp;
The singer wrote an entire essay about how he saw JASON as a way of building "a true community" for the first time in his career.&nbsp;
Derulo himself has attracted backlash from some members of the cryptocurrency community who are convinced that the singer tried to pull off a typical pump-and-dump scheme.&nbsp;
After being confronted by some cryptocurrency influencers, Derulo urged them to stop spewing "nonsense," adding that he is already rich.&nbsp;&nbsp;&nbsp;&nbsp;
"Humbly speaking I’m rich af and have a name and brand to protect," he said in a social media post.&nbsp;&nbsp;
The personal net worth of the "Whatcha Say" singer is estimated to be $16 million. He has a total of 14 platinum singles in the U.S.&nbsp;
Derulo is, of course, far from being a crypto newcomer. As<a href="https://u.today/jason-derulo-says-he-was-early-to-shiba-inu" rel="noopener noreferrer nofollow"> reported by U.Today</a>, the famous hip-hop artist claimed that he was "early" to the Shiba Inu craze back in 2021.&nbsp;
During the same year, Derulo&nbsp;<a href="https://u.today/jason-derulo-joins-nft-craze-after-shilling-solana" rel="noopener noreferrer nofollow">joined</a> the "CryptoPunks gang" when the NFT frenzy was reaching its peak.&nbsp;
However, Derulo's foray into the celebrity meme coin scene proved to be quite disastrous.&nbsp;

Jason Derulo’s Cryptocurrency Annihilated as Meme Coin Frenzy Fades

U_Today

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