There is nothing that doesn’t exist on the meme coin market. The tokens are launched without any benefit and if one of them goes viral, life-changing returns can be achieved in a very short time. What helps to achieve this virality is, of course, reach. And celebrities have plenty of that. That’s why there is now a new trend on the market in which famous people launch their own meme coins, which then go through the roof in a very short time. It’s not just $JENENR and $MOTHER that have been extremely successful in recent days.
Profits at the expense of the fans?
Andrew Tate has already considered launching his own coin, which he offers to the participants of his academy in advance sale, and then listing it on the crypto exchanges, where the price would probably have quickly exploded by thousands of percent. In the end, however, he decided against it because that would of course always mean that many of his followers would also make losses, as someone is always the one who gets in at the highest price and then quickly loses their money again. Australian rapper Iggy Azalea doesn’t seem to mind. She launched her meme coin $MOTHER just this week and pushed it extremely high to X.
It’s no surprise that the coin went through the roof after the rapper posted several tweets about it. After all, she has over 7.6 million followers on X alone and over 8 million subscribers on YouTube.
(Price development $MOTHER – Source: Dextools )
At its peak, the value of the meme coin rose to over 30 million USD and the trading volume also reached over 130 million USD in 24 hours. It was similar with $JENNER, which was pushed by Caitlyn Jenner and even rose to $50 million. Both meme coins are now being massively sold off, so those who came too late are suffering heavy losses.
Davido earns half a million dollars with his coin
After Caitlyn Jenner and Iggy Azalea, Davido was also hit. The Nigerian singer wanted to try it out too and launched his own token, which he bought himself right at the start. Since he also has an enormous reach and over 15 million followers on X, it didn’t take long for the price to explode here too after his first tweets about the new coin $DAVIDO.
Davido’s tokens have risen so much in value due to his tweets that the coins he bought for just under 1,200 USD were worth over 700,000 USD at one point. He has already made a profit of almost 500,000 USD, which of course has led to the price falling sharply.
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