Jupiter Business Expansion Manager Slorg wrote on the X platform that last month the Solana network produced 30 MEME tokens launched by celebrities, ranging from Andrew Tate to Soulja Boy, which were once very popular. However, each celebrity coin is currently down from its all-time high, with an average decline of 94%. Even the best-performing tokens have fallen by more than 70%, with half of them falling by more than 99%, and this is only about a month in their life cycle.
As of the time of posting, 22 of the 30 Celebrity MEME coins have a market cap below $1 million. Some of the tokens remain active as they are regularly discussed on Twitter. Ethereum co-founder Vitalik said last month that he was very dissatisfied with this round of celebrity experiments, believing that financialization is a means to an end, but it is difficult to accept if the end is a product.
Celebrity MEME coins on Solana fell by an average of 94%.
2024-07-25 09:20:05
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