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Several Massive Celebrity Coins Have Already Crashed in 2024
While the year isn’t even over yet, it seems like some celebrities have already experienced a crash of their respective coins. In recent times, many celebrity-backed cryptocurrencies have been under intense scrutiny due to suspicious activities and price drops.
Notably, the token backed by singer Jason Derulo has plummeted by more than 98% since its peak. This drastic drop in value is similar to the patterns seen in other celebrity-backed coins that have tanked after being accused of insider trading.
In another example, rapper Cardi B launched her own cryptocurrency called WAP (Wet-Ass Pussy) in October. Unfortunately for fans and investors alike, this token dropped by a staggering 99.7% in a short period of time. The allegations against Cardi B suggest that she sent over half of the token’s allocation to insiders.
Other examples include celebrity-backed coins like Lil Pump’s coin, Waka Flocka Flame’s coin, Davido’s coin, and French Montana’s coin, all of which have also seen significant drops in value. It seems like there is a pattern emerging where these celebrities’ tokens are experiencing dramatic price crashes shortly after their launch.
Notably, Welch, an expert who has been monitoring the situation closely, stepped forward to address the allegations, stating that he will help with the collective lawsuit against Shultz and others related to the HAWK token. This move may signal a change in the celebrity-backed crypto landscape, where experts are now taking a more active role in addressing these issues.
Despite these examples, it’s worth noting that the world of celebrity-backed coins is still in its early stages, and many projects have yet to be revealed or launched.
Source: www.bitcoinbazis.hu
