Solana

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In a startling revelation, it has come to light that Caitlyn Jenner has allegedly profited massively by launching a series of memecoins on the Solana blockchain. Over the past four days, Jenner reportedly earned 2,381 SOL (approximately $405,000) through the creation and manipulation of 12 meme coins. 
The scheme began on May 27, when Jenner launched a token named $jenner, spending 1.3 SOL ($221) to purchase 44.56 million $jenner on Pump.fun. She then sold the entire stash for 253 SOL, netting a staggering profit of 252 SOL ($43,000).&nbsp; 
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 Be wary of tokens launched by celebrities.🚨 We fund that <a href="https://twitter.com/Caitlyn_Jenner?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Caitlyn_Jenner</a> earned 2,381 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a>($405K) by launching 12 <a href="https://twitter.com/hashtag/MEMEcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#MEMEcoins</a> on <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Solana</a> in the past 4 days. 1/ A thread. 🧵 <a href="https://t.co/zqVaMjhjqf" target="_blank">pic.twitter.com/zqVaMjhjqf</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1796418414598332628?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 31, 2024</a>
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The proceeds were transferred to two addresses, one of which, “85feY8…soLxYd”, is a Binance deposit address. 
Further investigation revealed that numerous addresses have been transferring SOL to this Binance deposit address, suggesting these are newly created by Jenner. It led to the conclusion that Jenner has launched a total of 12 memecoins. This pattern indicates a clear strategy of creating new addresses, launching meme coins, purchasing them, and selling them at a profit. 
The audacity of Jenner’s actions is underscored by her lack of effort in disguising the transactions, as all profits were funneled into the same Binance address. This discovery serves as a stark warning to investors: exercise caution and conduct thorough research before investing in celebrity-endorsed tokens. 
In the past week, media figure Caitlyn Jenner and rappers Iggy Azalea, Trippie Redd, and Davido have all introduced tokens. They utilized the Pump Fun app, which gained traction on Solana by facilitating the straightforward creation of coins linked to images. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/31/pepe-whale-profits-nearly-5-million-despite-tokens-price-drop/" target="_blank" rel="noreferrer noopener">Pepe Whale Profits Nearly $5M Despite Token’s Price Drop</a> 
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Caitlyn Jenner Profits $405K from Solana Memecoins in 4 Days

The Crypto Times

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