Movie star meme cash have been the discuss of the city over the previous two weeks. The development of restoration in late Might rapidly turned one of many hottest subjects within the cryptocurrency neighborhood.
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The business has seen its share of controversy, tumult, and Vitalik Buterin’s tackle the celeb token craze. Within the newest growth within the phenomenon, WWE wrestler Hulk Hogan acquired right into a feud with Australian rapper Iggy Azalea.
Movie star meme cash one week later
Though the influencer token development began round Might 20, celeb tokens didn’t acquire mainstream consideration till actuality star and Olympian Caitlyn Jenner launched her JENNER memecoin. Together with Jenner, rapper Wealthy the Child additionally joined the cryptocurrency neighborhood via RICH.
Nonetheless, each tokens sparked controversy after alleged serial scammer Sahil Arora turned concerned within the issuance. A number of different artists and celebrities have additionally joined the cryptocurrency house and launched their meme cash, together with Lil Pump, Davido, Trippie Crimson, and MoneyBagg Yo. A few of these posts look like associated to Arora’s rip-off.
Every week later, most celeb meme cash have dropped considerably in worth or ended up being pull-and-pump scams. JENNER, which sparked the celeb craze, is at the moment down 81% from its all-time excessive (ATH) set on Might 27.
The Olympus token, often called “Sorana Goddess,” traded from round $0.04273 to $0.009072. This important drop additionally diminished its market capitalization from a peak of $30 million to $7.5 million.
Hulk Hogan wrestles with mom and dumps his followers
On Thursday, former skilled wrestler Hulk Hogan took X to announce the launch of his Hulkmania (HULK) token. Memecoin surged 500% in two hours, rapidly reaching a market worth of $17 million.
The providing turned bitter when buyers found that Hogan had offered his HULK pack and deleted his posts mentioning the coin. Inside minutes, the token’s market cap plummeted to $2 million.
Inside hours of Hogan’s X account selling the token, the retired wrestler appeared to focus on Azalea and Mom. In an X submit, Hogan replied to Azalea saying: “You suck at sucking. $HULK has actual milk.
Moreover, he shared two now-deleted Instagram posts of an argument with the Australian rapper. One was a profile picture of Hogan Azalea with the caption: “Sahil does it greatest.”
Earlier than deleting all Hulk-related posts, Hogan shared a narrative on Instagram claiming he had been hacked. In keeping with the submit, all publications are usually not from him and might be deleted quickly. Later, his X account was fully deleted and Instagram feedback had been restricted.
The cryptocurrency neighborhood has develop into more and more involved as mentions of Arora’s title point out his involvement within the rip-off. Nonetheless, it is unclear if Hogan’s web site, Instagram, and X account had been all hacked, or if the retired wrestler’s group was concerned.
Vitalik Buterin VS Koala Vitalik?
Earlier this week, Ethereum founder Vitalik Buterin criticized the continuing phenomenon of celeb tokens. On X, Buterin stated he was “very sad” with celeb experiments within the cryptocurrency house.
Buterin defined his issues about launching tokens that serve no function aside from as a get-rich-quick scheme. Moreover, he advised that celeb meme cash ought to have some options that may make him “extra prepared to respect it.” The listing consists of “the general public curiosity aims it serves”.
Responding to his criticism, Azalea stated Buterin was “simply hungry.” Moreover, she seems to have named a koala bear after the founding father of Ethereum. The rapper uploaded a video asserting the donation that saved one other koala. Its title? Koala Vitalik.
Azalea launches ‘MOTHER Fund’ to assist save koalas contaminated with chlamydia. Over the previous week, the rapper has obtained donations in meme cash and a number of other cryptocurrencies for the koala trigger.
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Moreover, Azalea provides her tokens utility. The rapper opened a Mom merchandise retailer that accepts MOTHER funds. Finally, the token continued to soar after reaching a brand new ATH and not too long ago surpassing $200 million in market cap.
Featured picture from Unsplash.com, chart from TradingView.com
