NFT
Celebrity Coins on Solana Blockchain Crash, Leaving Investors in Shock
Friday. July 26 at 12:30 AM
1 min. readThe recent introduction of celebrity-backed coins on the Solana blockchain has surprised new investors, with most token prices plummeting by more than 99%. Notable personalities such as 50 Cent, Caitlyn Jenner, Andrew Tate, Iggy Azalia, and Barron Trump endorsed these tokens, encouraging their fans to invest. However, over 30 celebrity-endorsed tokens launched in June on Solana have experienced a significant drop in prices, with some losing at least 73.23% of their value. A cryptocurrency analyst, Slorg, highlighted the dismal performance of these celebrity coins, revealing that only a few have managed to retain over 25% of their initial value. From Jason Derulo's controversial token sale to Waka Flocka Flame's questionable token activities, the celebrity coin market remains uncertain for investors. Despite promises of increased diligence, many investors who fell victim to past scams or the recent celebrity coin crash remain uncompensated.