Caitlyn Jenner’s just lately launched Solana meme coin has dived 66% in value over the previous 24 hours after the previous Olympian introduced a brand new token on Ethereum—this time with the aim of donating a share of charges to help Donald Trump’s presidential marketing campaign efforts.
Earlier this week, media character Jenner introduced her Solana meme coin JENNER, with many crypto observers initially assuming that her account had been hacked. However that wasn’t the case, and she or he was truly behind the undertaking in tandem with crypto promoter Sahil Arora. Jenner claims that she didn’t have custody of any of the tokens and that Arora owes her “lots of money” after he went “radio silent.”
JENNER spiked in worth and led to a rising wave of celebrity-backed meme cash, together with from rapper Iggy Azalea and musician Davido, however Jenner’s personal token took a dive on Wednesday after she tried to increase upon that preliminary success.
Late Wednesday, the decathlon gold medal winner launched a brand new model of the JENNER token on Ethereum, however with some tweaks to the method. Buyers apparently didn’t like this transfer, with the Solana token’s value dropping 58% within the two hours that adopted the announcement, and now 66% over the previous 24 hours.
Arora, who has since launched other celeb-themed tokens, confirmed to Decrypt that he had no half to play on this new token. “She’s a grasping granny,” he mentioned through Telegram DMs.
An hour later, Jenner took to Twitter Areas to announce that her new coin has a 3% tax utilized to all transactions which, as soon as a $50 million market cap is achieved, shall be donated to help Donald Trump’s presidential campaign through a Tremendous PAC.
Her earlier Solana token peaked at a $42 million market cap, in keeping with DEX Screener, amid the industry-wide confusion that adopted its launch. Nevertheless, her new Ethereum undertaking topped out at a $4.75 million market cap a number of hours after it launched, in keeping with DEX Screener. Now, lower than 24 hours later, the token is sitting at a $2.4 million market cap—far off its $50 million Trump impressed aim.
Jenner has additionally slowed down tweeting for the reason that heyday of her Pump.enjoyable token. And when she does submit, she’s typically met with criticism and abuse, now that the Solana model of JENNER has plunged 81% since its Tuesday peak.
“Give Solana the love again!” one Twitter consumer replied.
Edited by Andrew Hayward
Each day Debrief E-newsletter
Begin daily with the highest information tales proper now, plus authentic options, a podcast, movies and extra.
