Inventory of those fleeting celebrities Meme coin

Original title: “Celeb tokens that burned bright, then burned out in 2024”

Author: Jesse Coghlan, CoinTelegraph

Compiled by Deng Tong, Golden Finance

Celebrity-themed cryptocurrencies experienced a moment of fame in 2024, with public figures hoping to capitalize on their fame as cryptocurrency steadily rose.

However, the fleeting ‘celebrity Meme coin’ has seen a sharp decline in value since its launch, or a significant drop from its peak.

Let’s take a look at those Meme celebrity tokens that will disappear without a trace in 2024.

Caitlyn Jenner’s JENNER

Former Olympic athlete Caitlyn Jenner launched her namesake JENNER token at the end of May via Solana memecoin launcher Pump.fun.

This release has been overshadowed by chaos, as many believe that Jenna’s X account has been hacked.

Even the now-deleted video to ensure she wasn’t hacked is considered a deepfake, as other celebrities, including Jenner’s predecessor, Kim Kardashian, have faced harsh SEC crackdowns for promoting cryptocurrencies.

Bubblemaps indicates that in the subsequent celebrity token issuance, a batch of wallets held a quarter of the token’s supply and sold it in advance, fetching 500,000 dollars.

Jenner attributed the token’s early price drop to Arora, claiming he deceived her team. She then launched the token on Ethereum, which CoinGecko says is now basically worthless, down 98.5% from its peak.

In November last year, Jenner was sued collectively for promoting these tokens, accusing her and her manager, Sophia Hutchins, of “using fraudulent means to solicit financially inexperienced investors […] to purchase unregistered securities.”

Mother Iggy

Australian rapper Iggy Azalea (real name Amethyst Kelly) is known for her hit single “Fancy” ten years ago. She launched the popular Mother Iggy (MOTHER) token in May, which is part of a controversial series of celebrity token issuance activities initiated by Sahil.

MOTHER was launched after Azalea accused Arora of using her likeness to launch the token. According to CoinGecko data, MOTHER reached a peak of 23 cents in early June, but has since dropped by about 87% and has traded around 5 cents for most of this year.

MOTHER briefly broke through 20 cents shortly after its launch, but has since been unable to rise. Source: CoinGecko

This is not because Azalea lacks the attempt. She - or someone in her team - has already made posting about the token a full-time job, with countless posts about the token on X and Telegram every day.

The retired rapper also tried to give Meme Coin ‘practicality’ by launching an online crypto casino called Motherland a few days before Christmas. The casino accepts the token and relaunches her telecommunications company, Unreal Mobile, which offers mobile phones and plans that accept MOTHER.

Cryptocurrency analysis company Bubblemaps claims that MOTHER saw internal activity at launch, with a few wallets buying 20% of the supply before Azalea’s public announcement, and then immediately selling the wallets, making a profit of 2 million dollars.

Earlier this year, lawyers said that US resident Azalea and other American celebrities may clash with the local Securities and Exchange Commission, which claims that most cryptocurrencies are securities.

Hawk Tuah (HAWK)

Haliey Welch rose to fame in June by launching the controversial Hawk Tuah (HAWK) meme coin, which once again popularized her slogan.

HAWK was launched in December, according to Bubblemaps analysis, the internal wallet purchased the token and then sold a large amount of tokens at the time of release.

Welch denied that her team was involved in any internal activities, but by then, HAWK had already become a PR nightmare, with community comments on her X post suggesting that the token had turned into a bust.

She ‘copied and pasted’ HAWK’s token allocation and issuance schedule.

Verlchi and her token team - including Alex Shultz, also known as ‘Hollywood Doctor’, who runs Memetic Labs, a cryptocurrency consulting company for celebrities - then went live on X and was investigated live by YouTube investigator Stephen Finson, also known as Coffeezilla.

The live broadcast was later removed from X.

The sharks began to lay out in this farce, and the lawyers hunted down the HAWK buyers, launching a collective lawsuit on December 20th against Shultz, OverHere, founder Clinton So, and the organization behind the token, the Tuah the Moon Foundation.

To avoid being mentioned in the lawsuit, Welch issued her first public statement since December 20, stating that she is assisting in the class action lawsuit regarding the token and urging HAWK holders to contact the law firm leading the lawsuit.

Other Celebrity Meme Coins

It is reported that more celebrities promoted tokens this year, but these tokens have now fallen from their peak and have been accused of large-scale insider trading, etc.

The artist’s eponymous token Jason Derulo (JASON) follows a similar issuance pattern, with its price plummeting and being accused of internal distribution.

JASON has fallen more than 98% from its high point. Derulo’s last update about the token was in September, and no information has been released in the past two months.

American rapper Cardi B (Belcalis Cephus) released her WAP (WAP) token in October.

WAP has dropped 99.7% from its peak and has been accused of allocating more than half of its tokens to insiders. So far, Cardi B has only published about 5 posts about the X token.