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Title: Some Massive Celebrity-Backed Coins Crashed in 2024
As we have come to expect, the year 2024 has been marked by numerous celebrity-backed coin crashes. In a shocking turn of events, several high-profile artists and rappers have seen their tokens plummet in value, leaving investors reeling.
Notably, Shultz, the founder of OverHere, was accused of being responsible for all the mishaps surrounding the HAWK token on December 16th. The law firm quickly compiled a list of HAWK buyers and filed a group lawsuit on December 20th against individuals including Shultz, the founder of OverHere, Clinton So, and Tuah the Moon Foundation.
However, it’s not just Shultz who has been accused. Other celebrities have also seen their tokens crash in value, leaving investors out of pocket. We’ve seen Lil Pump (Gazzy Garcia), Waka Flocka Flame (Juaquin Malphurs), Davido (David Adeleke), and French Montana (Karim Kharbouch) all fall victim to the same fate.
It’s not just these rappers that have suffered, as we’ve also seen tokens associated with Jason Derulo (JASON) take a massive hit. His token, JASON, plummeted by over 98% since its peak, and investors are calling foul, citing insider trading and manipulation. Derulo last spoke publicly about the token in September after failing to do so for the two previous months.
But it’s not just male artists who have been affected – Cardi B (Belcalis Cephus) also saw her WAP token lose a staggering 99.7% of its value in a short period of time, with many accusing her of sending over half of the tokens to insiders. Cardi B has only publicly spoken about the token five times, leaving investors wondering what’s going on.
As we look back on the year, it’s clear that celebrity-backed coins have had a dismal performance. It seems that these artists are not immune to the volatility and unpredictability of the crypto market.
Source: www.bitcoinbazis.hu
