Celebrity meme coins: billions
of dollars vanish and heavy losses
Over the past two years, the crypto market has witnessed a dramatic surge in new types of tokens known as celebrity meme coins, which have received backing from public figures and politicians. These coins drew widespread attention and attracted massive investments thanks to intensive promotion on social media. However, this shine didn’t last long; many of these projects, whose market values once hovered in the billions, became mere ruins, losing more than 95% of their original value and inflicting severe losses on individual investors.
A recurring pattern: rapid rise, then a spectacular collapse
This unfortunate scenario repeated itself across multiple projects. Within just a few hours of launch, these tokens attracted buyers due to their strong branding and loud marketing, driving trading volumes up and prices soaring at an astonishing pace. But soon the trend reversed: as early investors sold their holdings to realize profits, prices plunged sharply, wiping out billions of dollars from the market value. These crashes are often followed by official investigations and lawsuits, along with questions about how the tokens were distributed.
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