🚨💥 Crypto alert: the crash of celebrity tokens! 💥🚨
Last month, Solana welcomed a wave of tokens launched by celebrities like Andrew Tate and Soulja Boy. This phenomenon has made waves to the point that Vitalik Buterin spoke about it! But what followed was far from expectations…
Bottom line: all of these tokens have plunged from their all-time highs, with an average fall of 94%. Even the most resilient have lost more than 70% of their value. The situation is even worse for half of the tokens which have lost more than 99%!
The market capitalizations are not left out: 22 of the 30 tokens have a capitalization of less than 1 million dollars.
Some tokens are still mentioned on X, like that of Waka Flocka, which lost 99.7% but continues to be promoted in its tweets and bio. Can we talk about manipulation?
With only 40% of tokens having been mentioned recently, most followed a typical trajectory: an initial peak followed by a sharp drop. A few are still trying to survive with varying degrees of success. Where will they be in a year? The question remains open.
The numbers are alarming, but it is a common reality in the world of tokens. Web3 is capricious, and even serious projects are not immune to failures, not to mention pump and dump schemes.
Check out the chart of the 30 celebrity tokens launched on Solana $SOL in June below. All are in decline.
Place your bets wisely!
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