Solana Michi coin jumped 18% early Mondayaccording to data from CoinGeckoafter pop artist Ariana Grande shared the meme that inspired the piece Instagram Story.
The Michi meme was edited to contain a pink “love potion”, alongside posters of a loved-up man with kiss prints on the wall. It is the work of a Large fan account in reference to a clip that the singer released for her single “The boy is mine.”
“I think the boy is hers, [I don’t know]”, the message reads, followed by the image of the meme. “Hey, it’s me,” commented a Michi Solana Instagram account.
In the eight hours following Grande’s rebroadcast, Michi rose just 3% to $0.22. But once a pseudonym crypto influencer Ansem-which has already helped propel fashionable pieces like dog hat (WIF)—highlighted Grande’s repost on her Twitter, the chart jumped 18% to $0.26 in just an hour.
The move comes after a number of celebrities publicly announced their crypto venture. More specifically, media personality Caitlyn Jenner spear two pieces meme and musician Iggy Azalea made her debutwhile former kickboxer Andrew Tate embarked on a coin spending spree late last week.
This is unlikely to be part of a hack of the artist’s account, as she continued with her normal social media activities, including a happy birthday message to her mother.
The move sparked a debate on Crypto Twitter over whether the post happened organically or not. But many believe it was simply an organic repost of the meme. After all, Michi was a meme before it was a coin, and it’s likely that most people sharing the image are unaware of its cryptographic connection.
In turn, there’s a good chance that Grande has no idea the coin exists and just wanted to repost a fan-made meme promoting her recently released music video.
“The memes that most of these pieces are based on are already viral. If a celebrity posts this meme, it’s because it’s already viral. They are not promoting the underlying meme piece,” one Twitter user explain. “This is a big endorsement for the meme itself.”
Decrypt reached out to Ariana Grande’s team for clarification, but did not immediately receive a response.
Edited by Andrew Hayward
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
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