As an analyst with years of experience in the crypto market and a keen eye for celebrity-backed projects, I must admit that the Jason Derulo meme coin (JASON) debacle has been quite an amusing spectacle to observe. With my extensive knowledge of the industry and its inner workings, it’s become abundantly clear that JASON’s meteoric rise and subsequent nosedive was not just a random occurrence but rather a perfect storm of hype, expectations, and reality.
JASON, the Solana-based meme coin of famous R&B artist Jason Derulo, has lost an eye-popping 97%
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However, the token’s actual market cap currently stands at just a minuscule $1.23 million.
It’s important to mention that the token first came into existence through a meme coin creation platform built on Solana called Pump.fun. Soon after its debut, the token saw significant increases in value. Not surprisingly, this upward trend didn’t last long
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Critics within the cryptocurrency circle have accused Derulo of attempting a classic manipulative tactic known as “pump-and-dump,” where the value of a coin is artificially inflated and then quickly sold off, leaving investors with losses
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In his social media post, he modestly stated, “I’m extremely wealthy and it’s important for me to safeguard my reputation and my identity.”
The estimated personal wealth of the artist behind “Whatcha Say” stands at approximately $16 million. In the United States, he boasts a total of 14 platinum-certified singles to his name
Jason Derulo isn’t exactly a novice when it comes to cryptocurrencies. According to U.Today, he stated that he jumped on the Shiba Inu bandwagon quite early back in 202
In that very same year, Derulo became a part of the CryptoPunks group, as the excitement around Non-Fungry reached an all-time high. (NFT) with him, along with them, alongside the NFT mania
However, Derulo’s foray into the celebrity meme coin scene proved to be quite disastrous.
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2024-09-05 00:03