⚠ Rapper Pitbull accidentally triggered a wave of shitcoins
• On August 12, Pitbull announced his 14th music album PITCOIN. On the same day, the first token with the same name appeared on Solana
• On August 25, the rapper wrote on X: “Pitcoin is coming”
• After the post, one of the PITCOIN tokens grew by more than 100%
• Another token with the same name on the Robinhood blockchain gained 207% in less than 7 hours
Right now, dozens of shitcoins are trading under the name PITCOIN. Pitbull has nothing to do with them, and his pre-save campaign is only run on music platforms.
Even if Pitbull had launched a token himself, stories like this almost always end the same way
• In May 2024, Iggy Azalea launched the token MOTHER; in 2 weeks the market cap grew to $240 million, but later it stabilized around $50 million. Later it turned out that insiders had bought 20% of the issuance in advance and dumped the tokens for $2 million
• Caitlyn Jenner launched the token JENNER, which reached a market cap of more than $40 million, but the very next day it lost about 50% of its value
So think twice before getting involved in such adventures)
$SOL
• On August 12, Pitbull announced his 14th music album PITCOIN. On the same day, the first token with the same name appeared on Solana
• On August 25, the rapper wrote on X: “Pitcoin is coming”
• After the post, one of the PITCOIN tokens grew by more than 100%
• Another token with the same name on the Robinhood blockchain gained 207% in less than 7 hours
Right now, dozens of shitcoins are trading under the name PITCOIN. Pitbull has nothing to do with them, and his pre-save campaign is only run on music platforms.
Even if Pitbull had launched a token himself, stories like this almost always end the same way
• In May 2024, Iggy Azalea launched the token MOTHER; in 2 weeks the market cap grew to $240 million, but later it stabilized around $50 million. Later it turned out that insiders had bought 20% of the issuance in advance and dumped the tokens for $2 million
• Caitlyn Jenner launched the token JENNER, which reached a market cap of more than $40 million, but the very next day it lost about 50% of its value
So think twice before getting involved in such adventures)
$SOL
