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    Most Andrew Tate-endorsed memecoins crashed to zero

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    HI, Crypto prices aren’t surging anytime soon, so stop forcing it, trader, user, crypto price, falling, drop, price down, red market, price analysis, analytics, unhappy, failed, screen, monitor, graph, PC, trouble, misfortune, unhappiness, bad luck, failure, collapse, crash, memecoin, memecoin, meme coin

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    Social media influencer Andrew Tate endorsed over 10 memecoins on the Solana platform that afterwards lost nearly 99% of their value, triggering insider trading suspicions. Following this, Tate proclaimed his ability to manipulate crypto prices at will. Many Solana-based tokens backed by celebrities have lost significant value, adding to skepticism in the cryptocurrency market. Some traders have capitalized on volatile memecoin prices, but the majority of endorsed tokens suffered significant losses.

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    Here’s the skinny on memecoins and a bit of controversy stirring up in the world of crypto. So, you may have heard of Andrew Tate, a controversial figure on social media who’s recently got caught up in the memecoin craze. Well, all I can say is that things didn’t turn out too great for him. Most of the memecoins he backed lost 99% of their value which smells suspiciously like possible insider trading.

    Back in June, Tate gave a big thumbs-up to over 10 memecoins on the Solana platform. Mind you, these memecoins aren’t known for having any real value. After Tate’s wholehearted endorsement, the value of most of these tokens nose-dived by around 99%, according to a post by Bubblemaps. They said that Tate first bought $GER (Germany Token) and then the price of that coin dipped by 99% in just two months. Ouch!

    Now, memecoins are notorious for their wild price swings, with some traders making a hefty profit. For instance, a smart crypto trader recently banked over $9 million profit in just three days thanks to a whopping 3,000-fold return on his investment in the Nomogram (GNON) token.

    In addition to Andrew Tate, several other celebs like 50 Cent, Caitlyn Jenner and Iggy Azalea have promoted Solana-based tokens. Unfortunately, many of these coins have since taken a big hit in value.

    Now, here’s where things get even weirder. The Roost (ROOST) token was among the memecoins that Tate endorsed through his social media posts and videos. Shortly after his promo posts went up, though, the price of Roost plummeted. Adding insult to injury, the Roost community got their treasury wallet hacked, and the person who was hacked is anonymous!

    Following these sketchy events, Tate posted that he can manipulate cryptocurrency prices at will. This statement from him doesn’t exactly reassure the crypto crowd!

    On top of that, most of the cryptocurrencies that Tate backed have dropped in value by over 90%, including Fuck Tristan (FTRISTAN), TopG (TOPG), RNT (RNT) and Daddy Tate (DADDY).

    Besides Tate, plenty of other celebs have launched their own cryptocurrencies. These often crash weeks after their launch, adding to the mistrust in the crypto market. Over 30 of these celebrity-endorsed tokens launched in June on Solana have seen their prices drop by at least 73.23%. So, folks, the world of memecoins seems like a risky game but would you play it?

    Source: Cointelegraph

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