By Naga Avan-Nomayo From PFP NFTs to Solana memecoins, mainstream celebrities have waded into the web3 ecosystem under community-centric chants and short-lived hype. Memecoins may have onboarded a new lifeline as celebrity tokens have debuted on Solana ( SOL ) this past week, adding a new buzz layer to the memetic culture gripping crypto. Caitlyn Jenner recently shipped a coin dubbed JENNER launched via SOL-based memecoin portal pump.
fun . Shortly after trading opened, developers dumped on users and tanked the token’s price, drawing scrutiny on Jenner for allegedly orchestrating a rug pull. Reports later revealed that a notorious scammer called Sahil was behind the incident.
Sahil supposedly preyed on Jenner’s ignorance about the web3 space and used his role as a middleman to profit from the celebrity’s memecoin. Enter Iggy Azalea’s MOTHER memecoin Less than 48 hours later, Aussie rapper and OnlyFans model Iggy Azalea released a token under the ticker MOTHER. Per DEX Screener, Azalea’s celebrity crypto surged over 30,000% and peaked at a $30 million market cap.
The user Sahil also launched an IGGY coin to siphon Azalea’s hype, making off with millions in yet another pump-and-dump offering. Azalea distanced herself from Sahil’s IGGY, joining X Spaces to promote her coin, share her admittedly rudimentary knowledge of web3, and espouse interest in the decentralized meme ecosystem. “This is a gamble, this is a game.
That’s why it’s fun. Play the game or don’.
