"Stealing celebrity X's account to issue coins" scams occur frequently. Is the celebrity Meme coin hype coming to an end?

Author: Grapefruit, ChainCatcher

On January 24, Binance announced the launch of a contract for the new MEME currency VINE, and the price of VINE rose by more than 100% in 24 hours. This is another celebrity Meme coin representative that quickly went online after the Trump family Meme.

Since Trump issued the Meme coin TRUMP named after him on January 18, the currency’s market value has rapidly climbed to a high of nearly $80 billion within two days. At the same time, the market value of his wife's Meme coin MEANIA with the same name once exceeded the US$5 billion mark, and even the total market value of his younger son's Meme coin "BARRON" with the same name has risen sharply to about US$400 million.

The astonishing increase in this series of MEME coins not only made the Trump family a lot of money, but also created a group of millionaires and even multi-millionaires who became rich overnight by buying these Memes. Every day, there are people on X Show off your huge profits from purchasing Meme coins. This makes investors who have shorted TRUMP coins feel unwilling to do so, hoping to capture the next 100-fold celebrity Meme coin as soon as possible to make up for their previous losses.

In the face of such huge economic benefits, the issuance of MEME coins by celebrities is becoming a new hot spot of speculation in the market. Every day, dozens of celebrity Meme coins are flying around on major social platforms. Whether they are real or fake, users are overwhelmed.

**Chaos: Celebrity coins are released every day, counterfeit coins are

issued by impersonating celebrities, and stories of Rug returning to zero are endless.**

The fanatical atmosphere of celebrity Meme coin speculation also seems to provide an opportunity for criminals. They take advantage of investors' eagerness and frequently launch celebrity Meme coins to conduct money-making scams, causing chaos in the celebrity Meme coin market. Currently, multiple new celebrity Meme coin projects emerge on the market every day, but most of them cannot escape the fate of Rug being reset to zero. People often pretend to be celebrity X accounts to issue fake Meme coins, pump them up and then delete their tweets.

Currently, the only celebrity Meme coin that has been listed on the Binance exchange since TRUMP is VINE.

On the morning of January 23, Rus Yusupov, one of the early founders of the short video platform Vine, announced on the Previously on January 19, Musk said that the X platform was considering restarting the Vine service. This behavior was interpreted as Musk's counterattack against Titok. The market value of the VINE token exceeded US$100 million within one hour of its launch, and it rushed to the US$500 million mark that evening, with the highest quotation being approximately US$0.5.

On January 24, Binance announced the launch of the VINE token perpetual contract. Affected by this news, the VINE token rose by 20% in a short period of time and nearly 90% in 24 hours. It is now quoted at US$0.38, with a market value of approximately US$380 million.

Except for VINE tokens, most of the other celebrity meme coins were either issued by scammers or malicious traders pumped and dumped them, etc., and eventually they all moved towards the Rug trend.

On the day the VINE token was listed on Binance, ALON, a Meme coin claimed to be created by the founder of Pump.fun, had a market value that quickly exceeded US$250 million from US$300.

Community users found the reason. It turned out that alon, CTO of Meme currency issuance platform Pumpfun, posted on his X account that he had obtained the ownership of the token TG group six months ago and paid the Dexscreener fee. His speech was interpreted by some crypto KOLs as saying that the ALON token is the Meme coin of the same name issued by Pumpfun CTO, which was widely spread in the crypto community and stimulated a short-term rise in currency prices.

However, keen users discovered that the Meme coin ALON token was created 11 months ago and its market value has been stable at around US$3-4 million. The coin was created by a user named @_a1lon9, and the CTO’s Twitter username is @ a1lon9 is not consistent, and also created a new Meme currency DARKALON 2 days ago, with a market value of less than $50,000.

Some community users believe that the revelation of ALON tokens at this time is related to Pumpfun CTO. It is very likely that bookmakers took the opportunity to sell the token due to the popularity of celebrity Meme, and Pumpfun CTO has stated that he did not create the token. ALON tokens also quickly fell back from $250 million to around $25 million.

Although Binance Alpha announced the addition of ALON that afternoon, this good news did not drive up the price of ALON. On January 25, ALON tokens were quoted at $0.025, with a market capitalization of $25 million.

In fact, before ALON tokens, there have been more and more routine scams in which " hackers steal celebrity X 's account, issue Meme coins to sell them, and then delete them and run away ".

First, on January 21, hackers impersonated the official X account of the Cuban national government, @CubaMINREX, and issued three Meme coins CUBA1.0, CUBA2.0, and CUBA3.0 within 24 hours. The market value of one of the first-generation CUBE1.0 coins once soared to US$30 million. The current currency has been taken over by the community and is quoted at US$0.014, leaving only US$14 million in market value.

On the same day, Nasdaq’s official Brazil’s Meme currency BRAIZIL had a market value of tens of millions of dollars and then quickly collapsed to hundreds of thousands of dollars.

On January 23, the late anti-virus software founder John McAfee’s X account released the AI ​​Meme currency AIntivirus (Ainti) token contract. Later, his wife Janice Elizabeth McAfee forwarded and promoted it on her X account, claiming that it was to continue McAfee’s pursuit of freedom and privacy.

After the launch of the Ainti token, the market value quickly exceeded US$100 million. However, the good times did not last long, as AINTI tokens were exposed to a large number of internal transactions. The token deployer had distributed 60% of AINTI before going online, and some addresses had been shipped. Affected by the negative news, the AINTI token has fallen from a high of $1. As of press time, it was quoted at $0.16 with a market value of $16 million.

At present, the scam of "pretending to be a celebrity

On January 24, someone pretended to open a fake account of basketball superstar Jordan on X and promoted tokens. In fact, Jordan himself did not have any X account.

In the afternoon of the same day, ChainCatcher reported that someone impersonated former BIGBANG member TOP on the X platform and issued the meme currency BIGBANG.

Today, a fake account pretended to be BlackRock CEO Larry Fink and issued the meme currency Rock.

**Celebrity Meme Hype Consensus: Enter the market on the chain, run fast

enough, and never go to CEX to take orders**

Although fraud and chaos occur frequently in the celebrity Meme currency market, there are still users who hope to capture a currency with wealth opportunities.

The recent comments circulating in the community - "Trump was shorted, trapped by the president's wife's coin MEANIA, Cuba played multiple rounds, VINE skyrocketed and plummeted, took over ALON at a high level, encountered Brazilian President Rug...", it can be said that users are chasing celebrity endorsements. The helplessness and dilemma of Meme currency.

Some users have even summarized a new valuation system for celebrity MEME: the market value of the president’s coin is US$10 billion, the president’s wife’s coin is US$5 billion, the technology founder’s coin is US$1 billion, and the market value of celebrities’ coins is US$500 million.

Faced with the endless emergence of Meme coins, experienced veterans in the market have understood the rules of their speculation: quickly enter the market on the chain, run fast enough, and never go to CEX to take orders.

" As long as I run fast enough, Rug can't catch me." This is clearly reflected in the transaction data of the kanyefnf.sol address. According to Ai Aunt's data, this user quickly made STONKS coins available at the beginning of its launch. Buy, purchased 80.01 million tokens at 49.95 SOL, at a very low cost ($0.0001607), sold decisively after the price rose, and finally sold all the tokens before the crash. The transaction made a profit of $867,000. However, most investors are not so lucky and end up buried deep in the market.

In this regard, the P young man MO (pseudonym) on the chain has deep feelings. The essence of Meme on the chain is a fast game. Who enters the market early and can quickly cash out after the price rises? Speed ​​determines everything. Especially the current celebrity meme coins have evolved into PVP games at the second or minute level. A new meme coin cannot even be popular for more than 3 days.

Mr. K also said in Space that every time a "divine disk" appears, the second and third days are basically the ultimate PVP. At this time, everyone is releasing the anxiety of not getting on the bus. In this state, it is actually not suitable to re-enter.

As for why not buy at CEX? This is because the cost of acquiring assets or transactions on the chain is different from that of CEX. Once the Meme currency is listed on the exchange, its market value has often risen to hundreds of millions or billions of dollars. The room for growth is very limited, and most of them cannot escape the fall. destiny. It is easier for users to obtain low-price chips on early chains. The market value is generally around tens of millions of dollars. If the market value reaches hundreds of millions, there is still room for growth several times.

Regarding this wave of Meme coin speculation, an old OG user who experienced celebrity NFT in the last cycle said that this wave of celebrity Meme coin speculation is more exciting than the previous NFT. NFT at least has a picture that can be used as an avatar, while celebrity meme coins really only have a string of numbers.

It is difficult to tell whether the stories about Meme coins that make people rich are true or false. Many of them are joint arrangements between bookmakers and KOLs, just to lure investors to take over. The popularity of celebrity Meme coins is also declining, because it is difficult to outperform the Trump family's influence. Powerful player.

He once again reminded that you must be cautious when investing in Meme coins, and make comprehensive judgments from multiple perspectives such as identifying fake X accounts and preventing Rug pulls.