๐Celebs are jumping on the crypto bandwagon! Caitlyn Jenner, Iggy Azalea, Trippie Redd, and Davido have all launched tokens using the Pump Fun app on Solana. Early buyers are making a killing, but not everyone's thrilled. Critics say it's a "net negative" for the industry. What's your take?๐
๐ฐSome early traders have netted six-figure profits. For example, Davido's $DAVIDO token made early buyers nearly $470,000 worth of Solana's SOL tokens in just 11 hours. But, not all is rosy. Prices of some tokens dropped more than 99% after their online promotion.
๐Critics argue that these celebs are just looking for a quick cash grab. They launch a token, allocate a portion of the supply to themselves, and then dump it on unsuspecting followers. Is this fair play or foul play? Let's discuss!๐
๐ฉโ๐ปDespite the controversy, some meme coin developers argue that creating successful tokens takes time and effort. They suggest celebs could add value to their tokens by launching social tokens around their brand and products. Do you agree? Let's hear your thoughts!