According to ChainCatcher, UFC wrestler Khamzat Chimaev launched Meme Coin, which is a Khamzat-themed Meme coin "SMASH".

SMASH plummeted to zero on Friday. The token plummeted in the hours after the wrestler posted the tweet. In the past 24 hours, the token has fallen by 96%.

Cryptocurrency veterans noted in Chimaev’s reply that this appears to be a classic cryptocurrency pump and dump. Blockchain sleuth ZachXBT was quickly able to link the “internal wallet” that sold the majority of the tokens directly to the development team’s wallet, suggesting this was an elaborate scam.

Chimaev has since deleted all tweets related to cryptocurrencies and SMASH tokens.