Author: TechFlow
With the launch of ETFs, players’ expectations for altcoins on ETH have only increased.
The rising price of ETH continues to ignite the altcoin market. Coupled with the positive attitude towards cryptocurrencies shown in the US election, the already lively MEME track continues to be a carnival. The iteration speed of new MEME topics even exceeds the speed at which people change their positions and exchange coins.
Today, the market was dominated by the MEME coin $Jenner launched by Caitlyn Jenner, the stepfather of the American internet celebrity Kardashian sisters. From Pump.fun to the secondary market, the thousand-fold increase is amazing.
After understanding the whole story, we found that the whole thing developed into quite a drama:
Card father issued currency
The entire series of "Keeping Up with the Kardashians" has been recorded for 14 years. It can be said to be a well-known reality show in the United States. The program mainly follows the daily content of the Kardashian family. Therefore, Caitlyn Jenner, a transgender woman who is the stepfather of the Kardashian sisters, can also be regarded as a national Internet celebrity.
Around 4 a.m., Caitlyn Jenner’s Twitter account posted a photo of her shaking hands with Trump and captioned “make america great again!!! and we love crypto!” with a link to pump.fun’s $Jenner token. Caitlyn Jenner then tagged Ansem, SolJakey, and Pauly, several well-known crypto KOLs, and called them “crypto kings!”.
Caitlyn Jenner's tweet immediately attracted the attention of a large number of community players, but since she was not a crypto player before, many players' first reaction to this smooth operation was that Caitlyn's account was hacked and the hacker was using her influence to quickly cash in.
The price of the currency is soaring, but the truth is confusing
But the opportunity is fair. When some people hesitated, others bought at the speed of light. $Jenner soared 15 times in half an hour after it was launched. Just as the price continued to rise and players were nervous to buy, Dev sold tokens worth 160SOL, causing the price to be cut in half. Instantly, the comment area of pump.fun was ridiculed and cursed, and players were more convinced that this was a trick played by hackers after stealing their accounts.
Then the price of the currency naturally went down, and then things took a turn: Caitlyn posted a Story about $Jenner tokens on her IG account again, and her agent Sophia also retweeted this Story. At the same time, Caitlyn also actively responded to players' comments on Twitter, saying that her account was really not stolen.
Is it a complete act by the hacker? If it is not a hacker, why did Dev sell the tokens? Half-believing and half-doubting, players launched a new round of attacks on $Jenner.
Caitlyn Jenner then posted a video showing her face on Twitter, saying that $Jenner was indeed released by her own team, and that she is currently playing golf so cannot show up for the time being.
As soon as the face-showing video was released, people's concerns were immediately dispelled, and the price of $Jenner coin began to accelerate.
Before the players could be happy for long, new doubts emerged: some people began to accuse Dev of past fraud and said that the video of Caitlyn Jenner showing her face was faked by AI technology. As soon as Fud appeared, $Jenner was cut in half.
Seeing that the situation was getting out of control again, Caitlyn Jenner's Twitter account directly held a Space, and her agent Sophia planned to personally refute the rumors in Space. As soon as this move was made, the tweets that had solid evidence of "anti-counterfeiting" disappeared one after another, and the token price began a new round of surge. Just when everyone thought "this is settled", the accident happened again: In Space, Sophia said that the team might launch a new token. As soon as this was said, the already exhausted players began to frantically sell tokens, and the price of $Jenner fell all the way, and the K-line revealed a breath of despair.
During the downward spiral of the coin’s price, Caitlyn Jenner’s Twitter account announced that the team would only focus on $Jenner and would not launch other tokens.
The retail investors who were tossed around several times in just two hours were speechless. Such a drama also caused heated discussions in the Twitter community, and Caitlyn Jenner has been actively forwarding the community's discussion about $Jenner.
As $Jenner has become popular, some retail investors are worried about whether to buy or not. Perhaps they are willing to buy it at a loss rather than let it go, so retail investors are pushing up the price of $Jenner again.
Now that she has both the price and the popularity, Caitlyn Jenner struck while the iron was hot and released a new video on Twitter. In the video, Caitlyn Jenner herself appears in a bathrobe and responds to doubts and fake rumors on Twitter.
After the video was released, hesitant retail investors took a gamble and the price of the currency eventually soared. As of now, $Jenner has risen nearly a thousand times from its earlier price, and the price of the currency is still high.
When fame is monetized, who gets rich and who suffers?
Although there are still doubts about Dev's behavior of selling tokens, judging from the price trend, retail investors have decided to pay for $Jenner's story.
Opening an emergency space and releasing a video showing her face to dispel rumors, this operation has caused Caitlyn Jenner and her team a lot of trouble. Whether it is due to internal strife or lack of experience, the unique experience of issuing coins for the first time is probably impressive to the entire team. But when the influence can be easily monetized, why not do it? Although the process was bumpy, as the price of $Jenner rises, Caitlyn Jenner and her team must have made money.
It is not necessarily the case for the retail investors who just accompanied them through the tossing and turning for half a day. The retail investors who invested real money are probably very uncomfortable with this tossing and turning. The market was cut in half several times within half a day and then reached a new high. Those who can hold on are really brave.
It can also be seen from the summary tweet released by the famous player 0xSun that it is really uncomfortable to participate in this incident from the perspective of a retail investor. It would be fine if you make money in the end after all the trouble, but if you leave with a loss, it would be a complete loss. Even experienced old players called it a drama.
People who know the Kardashian family may know that the life of the Kardashian family in the show is drama enough in itself, but such a drama experience may be just an ordinary daily life for retail investors in the cryptocurrency circle.
A day in the cryptocurrency world is like a year in the real world. Retail investors, who are swept up in countless new narratives every day, are inevitably exhausted and age faster amidst repeated price cuts and skyrocketing prices.
It is difficult to judge whether the story is true or not. The only thing that is certain is that it is always the retail investors who are confused behind the story and do not get any profit.
