The soaring prices of celebrity-backed tokens have caused polarization in the community. The JENNER token of American TV presenter Caitlyn Jenner brought a profit of 2,381 SOL (about $405,000) in 4 days. 😲

Jenner launched 12 meme coins on the Solana blockchain, buying them in large quantities and quickly selling them for a significant profit. For example, she bought 44.56 million JENNER tokens for 1.3 SOL and sold them for 253 SOL, making a profit of 252 SOL (about $43,000). 💰

Despite initial skepticism, Jenner reiterated her support for the token, allaying fears of a possible hack. However, experts highlight the risks associated with celebrity-backed tokens, which often attract untrained traders, leaving them in financial despair.

An investor under the pseudonym 'Cold Blooded Shiller' warned that celebrities are using these tokens as a way to get rich quick, and their support often results in the entire value of the token being lost shortly after launch.