It looks like we are back in the days when celebrities capitalized on their huge following to launch digital tokens. Over the past seven days, several well-known individuals have announced their entry into the crypto space via token launches.
Caitlyn Jenner Launches the JENNER Meme Coin
It all started with award-winning athlete Caitlyn Jenner, who shilled a meme coin dubbed JENNER. The celebrity used Pump.fun to launch her token. Considering the recent cases of hackers using celebrities’ X accounts to promote scam tokens, many crypto users doubted the legitimacy of Jenner’s X posts about the JENNER meme coin.
To confirm her posts were legit, Jenner posted a video shilling her token and shared a Pump.fun link with her followers to buy the meme coin. A few minutes later, controversial crypto influencer Sahil Arora claimed on his X account that he was behind Jenner’s meme coin launch.
Some on-chain sleuths began tracking Arora’s transactions. They would later find out that he sniped a significant amount of JENNER tokens and dumped them to pocket a $16,500 profit. On Friday evening, Jenner tweeted that Arora had scammed her. She added that the crypto influencer no longer responded to her DMs after dumping his JENNER tokens.
Rich the Kid Calls Out Crypto Influencer Arora
Although Arora has claimed to be working with numerous celebrities to launch meme coins, many public figures, including American hip-hop star Rich the Kid, have taken to X to call out the crypto influencer, labeling him a scammer.
Rich the Kid told his followers that Arora had launched a meme coin dubbed RICH on Pump.fun and asked him to promote it in exchange for a massive amount of RICH tokens. The rapper claimed that he declined Arora’s offer and announced the upcoming launch of his token called RTK.
As the JENNER Solana-based token declined in value following Jenner’s claims about Arora, the former American decathlete announced the launch of a new meme coin bearing the same on the Ethereum blockchain.
However, the crypto community on X was not having it. Some members called out Jenner for wrecking JENNER token holders on Solana after abandoning the project.
Amid Jenner’s saga, well-known musician Iggy Azalea announced her entry into crypto with the tweet “Crypto is Interesting.” She revealed that she had held talks with Arora about rolling out a meme coin but later discovered that he was untrustworthy.
Despite Azalea’s revelations about Arora, the crypto influencer went ahead to launch a token bearing the name of the musician without her knowledge. He later dumped his AZALEA tokens to profit hundreds of thousands of dollars.
Iggy Azalea Launches MOTHER Meme Coin
To convince the crypto community that she was in the space for the right reasons, Iggy Azalea attended and spoke in several Twitter Spaces. She then launched her own token, dubbed MOTHER.
Even though on-chain analytics company Bubblemaps revealed that insiders had bought over 20% of the MOTHER supply before the launch and dumped several tokens post-launch to earn $2 million, the meme coin has performed exceptionally well, according to data from Dexscreener. It’s trading at $0.07 with a market capitalization of $69.7 million.
Notcoin’s Latest Announcement Causes NOT to Surge 50%
Another crypto story that has made headlines on X involves Notcoin. The Telegram-based crypto game announced on Wednesday that it will soon launch a program called “earnings missions” to allow players to earn rewards passively. The news was welcomed by the crypto community as evidenced by the performance of Notcoin’s native token NOT, whose market cap crossed $1 billion on Friday following 7-day gains of 50%.
Lastly, popular crypto game Sandbox revealed the launch of its decentralized autonomous organization (DAO) over the weekend. Per the game’s X post, the DAO will allow holders of the SAND token to vote on raised proposals, which will be submitted through email.
The announcement has caused SAND to surge 3.9% over the past seven days. Data from CoinGecko shows the token trading at $0.46 as of this writing.
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