Featured Image from Pexels.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Over the weekend, the crypto community saw suspicious behavior from several X accounts. Crypto figures and celebrities were suspected of being hacked after some unusual posts promoting memecoins. Related Reading: PEPE Frenzy: 100% Gains In 30 Days, But Can The Memecoin Keep Its Composure? Among the celebrities, Olympian and reality TV star Caitlyn Jenner saw a turbulent launch of her JENNER token due to hack and back exit scam rumors. Despite the confusing start, the memecoin has soared by 50,000% since its launch. The Sunday Of Memecoins Launches On Sunday, the crypto community was on edge after a series of dubious posts were shared on different X accounts. First, crypto trader GCR\u2019s account was compromised. The hacker shared two posts promoting tokens, but the community quickly figured the posts were unauthorized. \u00a0 Later in the afternoon, rapper Rich the Kid and Olympic athlete Caitlyn Jenner shared links to Pump.fun promoting two memecoins, RICH and JENNER. The media personality shared a picture with Former US President Donald Trump and the text \u201cMake America Great Again\u201d alongside the link to the token. The community suspected another security breach in both instances. Nonetheless, Jenner claimed the token was not a scam and continued to promote it on her X and Instagram accounts. Jenner\u2019s manager, Sophia Hutchins, also posted a video explaining that the token and posts were real. Despite the clarification, the community remained cautious as deepfake videos have become more popular among scammers. However, there was some suspicious behavior during the launch, as it was later revealed. The Gold Medalist Of Scams? As the hours passed, crypto investors started to investigate Jenner\u2019s token. According to community member CryptoRoxo, the TV star\u2019s team was \u201csocially engineered by a guy named Sahil.\u201d Per her post, Sahil Arora was the \u201cmiddleman\u201d in charge of launching the memecoins and advising Jenner\u2019s team about crypto. After launch, Arora seemingly \u201cdumped all the tokens from the deployer wallet, and he had sniped more on burner wallets.\u201d Moreover, he asked Jenner\u2019s team to share a post asking the public to send him tokens. As reported by Roxo, the lack of crypto knowledge allowed Arora to trick several celebrity and influencer teams in the past week. At the time of this writing, Rich The Kid has deleted all posts related to the token and has \u201ccalled out\u201d Arora and Caitlyn Jenner for scamming people. Additionally, he claims to be working on launching his token, which is unrelated to RICH and Arora. Keeping Up With Jenner Token \u00a0X user 0xPonga compiled the tumultuous price movement of the JENNER token during the launch. According to the post, JENNER reached an initial $2 million market cap, despite the initial concerns. After Arora\u2019s sell-off, the community reinforced their suspicion of the scam. However, Hutchins\u2019 video seemingly raised the market cap to $8 million. The token\u2019s price dropped after the deepfake allegations, but the market cap recovered past $20 million after Hutchins addressed the comments in an X Space. Jenner\u2019s manager later hinted at the launch of a new token, which caused JENNER\u2019s price to plummet to a $6 million market cap. A community member stated his disbelief in Jenner\u2019s willing participation in the pump-and-dump scam. He asserted, \u201cI refuse Caitlin is dumb enough to think the few thousand dollars she made off this is worth the millions in fines\/jail time.\u201d Related Reading: Bitcoin Price Losing Steam: Market Momentum Slows Amid Trading Hesitation At the time of writing, Jenner’s alleged post asking for tokens seems to have been deleted. The Olympian has continued to promote her token, which will be listed on the crypto exchange MEXC this Monday. JENNER\u2019s market cap sits at $26.79 million and has a daily trading volume of $191.8 million. The memecoin has soared by 51,000% after surging from $0.00006 to $0.0392 in the past 17 hours. Featured Image from Pexels.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":610064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[12029,14186,85699,88164,12837,83626,91907,9848],"class_list":["post-610059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-crypto-hack","tag-crypto-scam","tag-memecoin","tag-memecoins","tag-sol","tag-solana","tag-solana-memecoins","tag-trump"],"acf":[],"yoast_head":"\n
Keeping Up With Memecoins: Caitlyn Jenner Token Soars 50,000%<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n