Celebrity Memecoins: Iggy Azalea And Hulk Hogan Beef Before $17 Million Rug Pull

Celebrity memecoins have been the talk of the town for the past two weeks. A trend that resurged at the end of May quickly became one of the biggest narratives around the crypto community. Related Reading: GMX Soars 20% Amid Crypto Whale Frenzy, Is It Back In Turbo Mode? The industry has seen controversies, rug pulls, and Vitalik Buterins thoughts on the celebrity token frenzy. In the phenomenons most recent development, WWE wrestler Hulk Hogan beefed with Australian rapper Iggy Azalea. Celebrity Memecoins A Week Later Despite the trend starting around May 20 with influencer tokens, celebrity tokens didnt gain mainstream traction until reality TV star and Olympian Caitlyn Jenner launched her JENNER memecoin. Alongside Jenner, rapper Rich the Kid joined the crypto community with RICH. However, both tokens were surrounded by controversy after it was revealed that alleged serial scammer Sahil Arora was involved in the launch. Several other artists and personalities joined the crypto space to launch their memecoins, including Lil Pump, Davido, Trippie Red, and MoneyBagg Yo. Some of these launches appear to be linked to Aroras scams. A week later, most celebrity memecoins saw a significant price decline or ended up as a rug pull scam. JENNER, which kickstarted the celebrity mania, is currently 81% down from its all-time high (ATH) registered on May 27. The Olympians token, described as the goddess of Solana, went from trading around $0.04273 to $0.009072. This significant decrease has also cut its market capitalization from its $30 million peak to $7.5 million. Hulk Hogan Wrestles MOTHER And Dumps His Fans On Thursday, former professional wrestler Hulk Hogan took X to announce the launch of his Hulkmania (HULK) token. The memecoin skyrocketed 500% within two hours and quickly reached a market cap of $17 million. The launch turned sour when investors found Hogan had sold his HULK bag and deleted his posts mentioning the token. In minutes, the tokens market cap plummeted to $2 million. During the hours that Hogans X account promoted the token, the retired wrestler seemingly targeted Azalea and MOTHER. In an X post, Hogan replied to Azalea, saying, You suck at pumping. $HULK has the real milk. Additionally, he shared two now-deleted Instagram posts beefing with the Australian rapper. In one of them, Hogan Azaleas profile picture and captioned it, Sahil does it best. Before deleting all his HULK-related posts, Hogan shared an Instagram story claiming that he had been hacked. According to the post, none of the publications came from him and soon would be removed. Later, his X account was wiped completely, and Instagram comments were limited. The crypto community grew concerned as the mention of Aroras name suggested his involvement in the scam. However, it remains unclear whether Hogans website, Instagram, and X account were all hacked or if the retired wrestlers team was involved. Vitalik Buterin Vs Koala Vitalik? Earlier this week, Ethereums founder, Vitalik Buterin, criticized the ongoing celebrity token phenomenon.  On X, Buterin stated he is quite unhappy with the crypto spaces celebrity experimentation. Buterin explained his concern regarding the launch of tokens with no purpose other than being a get-rich-quick scheme. Additionally, he suggested some features that celebrity memecoins should have for him to be more willing to respect it. The list included a public-good goal that its serving. To his criticism, Azalea responded by claiming that Buterin was just hangry. Moreover, she seemingly named a Koala after Ethereums founder. The rapper uploaded a video announcing the donations saved another Koala. Its name? Koala Vitalik. Azalea launched a MOTHER fund to help save Koalas infected with chlamydia. For the past week, the rapper has received donations in memecoins and several cryptocurrencies for the Koala cause. Related Reading: Get Ready For Altcoin Explosion: Anlayst Reveals Key Months For Massive Gains Additionally, Azalea is giving her token utility. The rapper launched a Mother merchandise store that accepts MOTHER as payment.  Ultimately, the token continued to soar after reaching new ATHs and recently breaking above the $200 million market cap. Featured Image from Unsplash.com, Chart from TradingView.com

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Vitalik Buterin critiques celebrity memecoin trend, outlines criteria for respectable projects

Vitalik Buterin criticizes celebrity memecoin trend, outlines criteria for respectable projects that provide value to society and engage participants beyond trading.

The post Vitalik Buterin critiques celebrity memecoin trend, outlines criteria for respectable projects appeared first on Crypto Briefing.

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Celebrity memecoin promoter Sahil Arora banned by X

Despite mounting scam allegations and social media bans, Arora continues to promote celebrity memecoins and partnerships.

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Lil Pump-And-Dump: SEC Issues Warning As More Musicians Dump Their Memecoins

The celebrity token frenzy seems to be the hottest topic of the week. The newly launched memecoins have been criticized by crypto community members as the tokens have been launched with massive controversy. After a week or so of pumping and dumping, the US Securities and Exchange Commission (SEC) issued an Investor Alert. However, the SECs warning didnt stop more musicians from joining the crypto festival of Q2. Related Reading: Solana Is For Baddies: Rapper Iggy Azalea Joins The Controversial Celebrity Token Frenzy SEC Warns About Celebrity Memecoins On Wednesday, the US SEC released an Investor Alert targeting memecoins. In the warning, the Commission alerted users about pump-and-dump and pre-sale schemes involving meme-based tokens. The SEC explained that fraudsters may create a memecoin and then tout it on social media. After pumping the price and selling to make a profit, investors see most of their money gone as the price rapidly decreases. The celebrity memecoins launch frenzy became a trend this past week. As a result, many mainstream media figures, influencers, musicians, and athletes have shown interest in the crypto space. In most cases, these celebrities start engaging with the crypto community right before promoting their soon-to-be-launched memecoins. Nonetheless, the recent trend has been particularly controversial since these figures have, for the most part, worked with an alleged serial scammer. Recently, celebrities and community members accused a man named Sahil Arora of allegedly orchestrating several pump-and-dump scams. Arora seemingly scammed investors and partners in every memecoin launch hes been involved with. Australian rapper Iggy Azalea launched MOTHER two days ago and claimed to have created the token to stop Arora from using her image on his scams. Moreover, Rich the Kid and Caitlyn Jenner have come out stating that the alleged scammer lied to them. Now, more musicians have joined the crypto festival of memecoins while being accused of dumping their fans. More Musical Acts To Headline Memecoinchella On Wednesday, crypto sleuth ZachXBT accused famous rapper Lil Pump of participating in a pump-and-dump scam. According to the internet investigator, the rapper shared and quickly deleted a post promoting his memecoin after the token was dumped. The post stated lil or big pump and tagged one of Aroras accounts. Lil Pump answered the allegations, claiming to never have made a token and accusing Arora of scamming him and his fans. Moreover, he seemingly sent proof to the crypto detective to prove his innocence. In the early hours of Thursday, the rapper claimed to have taken control of his accounts and the memecoin. Moreover, he distanced himself from the alleged serial scammer. However, ZachXBT shared some screenshots of a conversation between Lil Pumps team and the person managing the memecoin launch. According to the images, Pumps team was not aware of Aroras track record, but as the investigator explained, he still got partially paid for the scam. Additionally, his team hid the paid promo tag, which is an X requirement. ZachXBT pointed out that the rapper also did the same in 2022. Throughout the night, the internet sleuth listed several other artists who joined the crypto scam headlines. The list includes American rapper MoneyBagg Yo, Trippie Redd, and Davido. Giving A Platform To Scammers American-Nigerian singer and producer Davido was, alongside Lil Pump, the biggest topic on Wednesday night. The singer promoted his Davido token alongside figures inside the crypto space. Crypto trader Ansem held an X Space session with the music producer to discuss his project. According to online reports, the singer dumped over half of his DAVIDO holdings while on the X session. Lookonchain revealed that Davido made over 2,783 SOL, worth around 473,000, after selling 121.8 million DAVIDO tokens. Per the post, the singer received 7.5 SOL as start-up capital, which he used to buy 20.3% of the memecoins total supply. Related Reading: Keeping Up With The Memecoins: Caitlyn Jenners New Token Surges 50,000% Amid Controversy The community wasnt pleased with the crypto traders involvement in the incident. As a result, an important discussion was brought up by several community members. Many pointed out that platforming individuals, celebrity or not, who seemingly have no real interest in the space is predatory and dangerous. As pointed out by ZachXBT, leading the spaces provides credibility to them and gives celebs the platform to do this to people repeatedly. Featured Image from Unsplash.com, Chart from TradingView.com

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Solana Is For Baddies: Rapper Iggy Azalea Joins The Controversial Celebrity Token Frenzy

For the past week, a controversial celebrity token trend has emerged. Mainstream media figures began launching Solana-based memecoins and seemingly showing interest in cryptocurrencies. Related Reading: Is Solana Preparing For Liftoff Or Meltdown? Analysts Forecast SOLs Future The latest star to join the celebrity token frenzy is Australian rapper Iggy Azalea, who saw a controversial launch similar to Caitlyn Jenners JENNER token. Who Is Solana? On Monday, Azalea surprised the crypto community by showing interest in cryptocurrencies. The rapper and model posted on X asking, Who is Solana? I dont know that bitch. The post has gathered over 1.8 million views and caused controversy in different communities. Stan Twitter interpreted the post as a drag to American R&B singer SZA, which caused many fans to attack Azalea. However, the rapper quickly clarified the issue, replying, Girl, Im talking about crypto. After that, Azalea found her introduction to the crypto community overshadowed by the allegations of her involvement with alleged scammer Sahil Arora. As reported by NewsBTC, Arora was allegedly responsible for the launch of several celebrity and influencer tokens, which he ultimately rugged. Rapper Rich The Kid and Olympian Caitlyn Jenner called him out for scamming them and taking advantage of their followers. Both celebrities continued their crypto journey, promoting their tokens and engaging with community members. Following the scam allegations, Arora seemingly has continued to take advantage of crypto investors. Azalea is accusing the alleged serial scammer of using her image as the rapper distances herself from his practices. In The Fastlane From Music To Crypto Azalea explained that Arora and her team had a conversation regarding crypto, but her recently launched token was unrelated to him. Allegedly, Arora had fabricated fake screenshots and used the rappers name to raise over $380,000 in a presale for a token named IGGY. As an X user reported, Arora claimed to be working with the Australian rapper on Telegram. He stated that his next mega launch would happen in the next 12-24 hours. After raising 2.246 Solana (SOL), the alleged scammer told investors they would get automating WL to all further launches. Additionally, investors would receive a 10% SOL airdrop rationally from Aroras profits on each launch and an airdrop of $iggy when we hit $10m market cap. However, Azalea launched a different Solana-based token called MOTHER on Tuesday. The token references the LGTBQ+ culture term that got popularized in recent years in online stan culture. Azaleas token was launched only a few hours after Aroras IGGY token, which confused investors. After being asked, the rapper explained that she launched her Solana-based token to stop Arora from taking advantage of her name: I never had a date to, it was something I had interest in hence the convo with my ppl. He made a weird presale yesterday and said I was making a coin with him today so I decided to drop one so he couldnt use me for his weird scam. If I have a coin of my own figured his would die. Its that simple. The community continued questioning her links to Arora after posting an Instagram story with a man looking like him. However, it was later revealed that the individual was Azaleas brother, Mathias Kelly. MOTHER Beats IGGY According to Solana Floor, MOTHER reached a market cap of $50 million at its peak. The token soared by 63,000% in the following hours, going from $0.00004968 to $0.03179. In the last 16 hours, the token has amassed a trading volume of $126.8 million. At writing time, MOTHER is trading at $0.01634, representing a 21,000% surge from its launch price. Related Reading: Solana (SOL) Eyes a Strong Comeback: Will the Rally Ignite a Surge? In comparison, Aroras IGGY token saw its price soar to $0.009288 after launch before plummeting below the $0.00020 range. Currently, the scam token trades at $0.0001354 and has a market capitalization of $134,000. Featured Image from Wikipedia.com, Chart from TradingView.com

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Hacker identified in celebrity memecoin scams, says crypto sleuth Roxo

A person associated with Caitlyn Jenners JENNER coin launch rugged five other prominent figures, but not her, according to Roxo.

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Hackers target crypto influencer X accounts, shill meme coins

Celebrity social media accounts are being hacked to promote new crypto tokens, causing temporary market surges and raising security concerns.

The post Hackers target crypto influencer X accounts, shill meme coins appeared first on Crypto Briefing.

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Caitlyn Jenners Crypto Token: Scam or Legit? The Internet React

Caitlyn Jenner’s latest social post announcing the launch of her cryptocurrency $JENNER has ignited a firestorm! There is speculation that Jenner’s social media handle was hacked and the alleged attacker has posted a deep fake video of the celebrity. Despite the chaos, the newly launched token skyrocketed to a whopping $113.5 million volume in just […]

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Celeb tokens that burned bright, then burned out in 2024

2024 saw the birth of the "celebrity memecoin meta" with multiple public figures cashing in on their fame to launch memecoins, though many quickly fizzled out not long after launch.

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