Memecoins
Celebrity memecoins haven’t stood the test of time
Celebrity memecoins deployed on the Solana network’s pump.fun protocol have suffered a sharp decline. Nearly all of the value of these projects has been wiped out, leaving investors and fans of the celebrities the tokens were modeled after suffering huge losses.
While some of these projects took a few months to launch, many were pump and dump scams, leaving users in the lurch within hours of launch. Those that did last for a while didn’t do so for more than 3 months, showing that lack of real utility may not support assets in the long run, with a few exceptions like the top memecoins.
Of course, no celebrity-related asset has ever seen such a surge, which poses serious concerns for unsuspecting fans lured into investing in these assets by their favorite celebrities.
Crypto analyst Slorg highlighted the celebrity memecoin trend that is occurring during this bull market on X, manufacturing Striking revelations. “Below is a table of all 30 celebrity tokens launched on Solana in June. Every single one of them is down. Place your bets accordingly.”