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According to CryptoPotato, meme coins are gaining significant traction on the Solana platform, with celebrities like Andrew Tate joining the trend. Tate, a well-known figure, sparked the Solana community, leading to a surge in Tet-inspired memes. These digital currencies quickly became the most popular cryptocurrencies on DEXScreener, accumulating hundreds of millions of dollars in capital within just a few hours.
Tate has acknowledged his role in the current market turmoil, stating that he is âcreating chaosâ in the crypto market and trying to âtake down Solana.â His actions have sparked a flurry of tweets and discussions, with some speculating that he has burned over $30 million worth of a particular meme coin. However, it is important to note that meme coins carry a significant risk of capital loss due to their inherent volatility and lack of specific utility.
In related news, Caitlyn Jennerâs JENNER meme coin has also caused a stir among traders. The CEO of CryptoQuant has warned against the hype surrounding meme coins, suggesting that they could pose a threat to the industryâs progress. One trader reportedly made $23 million by flipping Solana meme coins
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