Celebrity-Launched Meme Coins: A Brief Surge and a Drastic Fall
CryptoNewsTerminal Staff06 Jun, 2024
Celebrity-Launched Meme Coins: A Brief Surge and a Drastic Fall
Celebrity-launched meme coins often experience a brief surge in popularity, but many of them have crashed dramatically shortly after their release. This is a trend that has been observed by cryptocurrency media outlets such as Cointelegraph. Some examples of celebrity-launched meme coins that have seen significant declines in value include JENNER, launched by Caitlyn Jenner, RICH, launched by Rich the Kid, and DAVIDO, launched by David Adedeji Adeleke Oon. These coins all experienced a surge in interest and value upon their release, but have since lost a majority of their value. Ethereum founder Vitalik Buterin has expressed his disapproval of celebrity meme coin launches, stating via Twitter that he is "not fine with memecoins as a way to make a quick buck." If you are considering investing in a celebrity-launched meme coin, it is important to be aware of the risks involved. These coins are often highly volatile and can lose value quickly. It is also important to do your own research and understand the fundamentals of the coin before investing.
