Andrew Tate, a social media influencer and former skilled kickboxer, lately ignited controversy within the crypto group. On Friday, he started selling numerous tokens within the Solana (SOL) ecosystem whereas posting inflammatory statements on Twitter, making a social media storm.
Recognized for his provocative social media presence, Tate’s actions have as soon as once more stirred up a whirlwind of constructive and destructive reactions.
Andrew Tate’s Meme Coin Ventures Spark Chaos and Curiosity
The chaos started after Tate acknowledged his intention to carry onto $1 million value of assorted belongings with “diamond hands” if his publish acquired a selected variety of retweets. The time period “diamond hands” is used to explain the motion of retaining an asset for the long run, no matter its worth fluctuations, resulting from a powerful perception in its future worth.
Shortly after his publish achieved the required variety of retweets, he introduced his plan to “crash the Solana network.” This assertion implied that he meant to buy many tokens in Solana, sufficient to probably overload the community.
Learn extra: 7 Scorching Meme Cash and Altcoins which might be Trending in 2024
Tate shared an tackle and inspired individuals to ship him cash. A whole lot of various cash flooded in. He burned some and promoted RNT all through the day. Regardless of receiving many cash, Tate claimed he made “zero” cash from these actions.
“I’ve made over 100 million trading through Solana. I’ve turned people into millionaires. I’ve made zero. Zero. I just bought coins and held them to dust,” he wrote on his X account.
Andrew Tate’s involvement in Solana considerably impacted the meme coin market. Actual Nigger Tate (RNT), which he has been shilling laborious, reached a market capitalization of $61.1 million.
One other coin, TOPG, achieved a market capitalization of $38.01 million. The TOPG developer allotted 58% of the availability to Tate, which he then burned. Moreover, TATE reached a market cap of $5.8 million, exemplifying the contagious reputation of those meme cash.
Following Tate’s actions, a slew of Tate-associated meme cash entered the market. For instance, G, linked to Tate’s canine, achieved a market capitalization of $4.5 million. GRETA, impressed by Tate’s previous encounter with Greta Thunberg, reached a market capitalization of $4.6 million, with Tate receiving 50% of its provide.
Different noteworthy cash embrace WARROOM, which is related to Tate’s non-public membership, hitting $3 million in market capitalization. In the meantime, EMORY, related to his father, and FTRISTAN, stemming from a disagreement along with his brother, reached market capitalizations of $2.8 million and $1.7 million, respectively. RBASE additionally reached a market capitalization of $1.7 million.
Learn extra: 11 Prime Solana Meme Cash to Watch in June 2024
Though Tate’s motives stay unclear, his actions align with his historical past of making controversial content material. In mid-Could, Tate claimed to have cashed out $500,000 in Bitcoin to spend money on GameStop (GME) and meme cash to spite hedge funds. This additional showcases his knack for stirring the pot within the crypto area.
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