Barron Trump

Solana

Jason Derulo

Waka Flocka

James

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-ecosystem-faces-challenges-with-celebrity-endorsed-memecoins/" data-wpel-link="internal">Solana Ecosystem Faces Challenges with Celebrity-Endorsed Memecoins</a> 
Solana ecosystem recently saw the launch of <a href="https://en.coin-turk.com/memecoins-gain-traction-in-crypto-market/" data-wpel-link="internal">memecoin</a> projects focusing on celebrities, shocking new <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> as most token values dropped over 99%. Celebrities like 50 Cent, Caitlyn Jenner, Andrew Tate, Iggy Azalia, and Barron Trump supported the token launches, encouraging their fans and followers to invest. 
<h2 class="p1" style="text-align: justify" id="what-is-happening-in-the-solana-ecosystem">What Is Happening in the Solana Ecosystem?</h2> 
In June, over 30 celebrity-endorsed tokens launched on Solana saw their prices drop by at least 73.23%. Crypto analyst Slorg’s X post revealed the devastating performance of these celebrity cryptocurrencies, noting that only a handful barely maintained more than 25% of their value. According to the analyst, even the best-performing celebrity-focused memecoin projects fell by more than 70%, but the extent of the damage is shocking: 
<blockquote> 
 “Exactly half fell by over 99%, and another 7 fell by over 90%. Let me remind you, they only have a month left to live.” 
</blockquote> 
From Jason Derulo refusing to sell his JASON tokens to Waka Flocka Flame’s FLOCKA token insider activities, the celebrity memecoin space remains uncertain for investors. Waka Flocka stated: 
<blockquote> 
 “My previous management would bring me projects that seemed real in early 2021, but the teams didn’t deliver. Now, I do my own due diligence and homework.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-373844" src="https://coin-turk.com/wp-content/uploads/2024/07/slorg.png" alt="" width="500" height="584"> 
<h2 class="p1" style="text-align: justify" id="details-on-the-matter">Details on the Matter</h2> 
Despite promises of future due diligence, the plan does not compensate unsuspecting investors who lost in past scams and recent celebrity crypto crashes. On June 21, Curtis James Jackson III, known as 50 Cent, claimed his X account and website were <a href="https://newslinker.co/what-is-cybersecurity/" target="_blank" rel="noopener" data-wpel-link="exclude">hacked</a> to promote a crypto pump and dump (PnD) token scam. 
Scammer developers used Jackson’s X account to create the PnD token (GUNIT) to lure the celebrity’s 12.9 million followers into investing before funds ran out. In a post to his Instagram followers on June 21, Jackson stated he had no connection with this crypto and immediately locked his account after Twitter was alerted about the incident. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-ecosystem-faces-challenges-with-celebrity-endorsed-memecoins/" data-wpel-link="internal">Solana Ecosystem Faces Challenges with Celebrity-Endorsed Memecoins</a></h5>
The post <a href="https://en.coin-turk.com/solana-ecosystem-faces-challenges-with-celebrity-endorsed-memecoins/" data-wpel-link="internal">Solana Ecosystem Faces Challenges with Celebrity-Endorsed Memecoins</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Solana Ecosystem Faces Challenges with Celebrity-Endorsed Memecoins

Table of Contents

COINTURK NEWS

Άλλα άρθρα που δημοσιεύτηκαν στις 25 Ιουλ 2024

Alert! MonoSwap Hacked – Users Advised To Halt Deposits Immediately

Bitcoin Plunges Past $65K: Analyst Maps Key Buy Zones and Bullish Indicators

Marathon Digital Takes Bold Step, Invests $100M to Fully Hold onto Bitcoin

Lido Staked Ether Falls More Than 7% In 24 hours

Horizon Protocol Integrates with 1inch to Enhance On/Off Ramp Experience

Gemini’s big upgrade: Faster responses with 1.5 Flash, expanded access and more

Join our free newsletter for daily crypto updates!