JENNER, a memecoin based on Solana, caused mixed emotions in the crypto community on Monday after attracting the attention of investors and reaching more than $250 million in trading volume in just a few hours .
Launching memecoin JENNER
Famous transgender star Caitlyn Jenner's X account announced the launch of the Solana-based JENNER token on the pump.fun website on Monday. Since its launch, the JENNER token has continuously raised questions from crypto enthusiasts about its authenticity.
Just a few hours after launch, the token reached $100 million in trading volume. At the time of writing, it has accumulated over a quarter of a billion dollars in trading volume across various token pairs, according to data from GeckoTerminal.
Caitlyn Jenner
Amid that, controversies arose when there were claims that Caitlyn Jenner's account had been hacked, increasing skepticism about JENNER's legitimacy.
Over the past few days, many celebrity accounts have been hacked, with hackers impersonating them to promote various tokens. The most recent cyberattack involves the CAT token, which has dropped nearly 70% in the past 24 hours.
![](https://public.bnbstatic.com/image/pgc/202405/677ca5e2770d183e905970e79471128c.png)
JENNER token price increases and decreases unpredictably during the hour | Source: Dextools
Similarly, Caitlyn Jenner's X account was also suspected of being hacked, but a video was released with Jenner and her manager talking about the authenticity of the JENNER token.
“I wasn't hacked. My manager just joined the community and answered all the members' questions – while I was playing golf. We are taking this coin to the moon!” Caitlyn said on X.
![](https://public.bnbstatic.com/image/pgc/202405/89e2c59fd3c7d3422bc2c3aa8b64b5f1.png)
Caitlyn Jenner continuously shills JENNER tokens on her X account with 3.3 million followers.
However, the crypto community remains divided on the issue, with some expressing skepticism about the sustainability of celebrity-related memecoins and potential risks.
One user said: “When will people realize coins like CAT and JENNER DO NOT last. From now on, I am confident that 99.9% of new coins will go to zero a week after launch.
The top memes reaching 1 billion+ have been with communities for just a few days longer.
The Solana ecosystem is saturated with 10-20k new coins being created every day.
Don't lose all your money gambling on scams right before the super bull cycle.”
Another user posted:
“As if celebrities don't have enough millions of dollars already so they have to jump into every crypto game to scam more money? You guys sucked the life out of NFTs, now you're back to suck the life out of memecoin.”
Amid the ongoing debate, Caitlyn Jenner's X account announced plans to migrate the JENNER token to the Ethereum network after initially launching on the Solana network, adding another layer of complexity to the situation.
Others pointed out that the celebrity's account has been posting irregularly since the token's launch, making it suspicious.
This adds to the uncertainty of investing in memecoin and the risks that come with it. Bad actors often use these tokens to commit scams, including pump-and-dump schemes, rug pulls, and others.
Caitlyn Jenner is a famous American personality, born on October 28, 1949. Before transitioning, she was known as Bruce Jenner and won the gold medal in the decade at the 1976 Summer Olympics. She became one of the most famous transgender people when she publicly announced her transition in 2015. Caitlyn Jenner is also a reality TV star, appearing in "Keeping Up with the Kardashians" and having her own show. “I Am Cait.” She is also involved in political activities and advocates for transgender rights.
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Source: https://tapchibitcoin.io/ngoi-sao-chuyen-gioi-caitlyn-jenner-gay-tranh-cai-khi-ra-mat-meme-jenner.html