Cryptocurrency Analysts Discuss The Impact Of Celebrity-Endorsed Memecoins

According to PANews, cryptocurrency analyst Cold Blooded Shiller recently expressed concerns on Twitter about the surge of Memecoins launched by celebrities. He believes that these actions are primarily for quick profit-making and historically, there have been no successful cases. He urged caution towards such behavior and suggested that celebrities should participate in the community without promoting tokens, learning and understanding the crypto culture, rather than profiting through token issuance. In the current environment, he argues that the issuance of tokens by celebrities is harmful to the crypto community. Another cryptocurrency analyst, Ansem, retweeted and stated that not everyone interested in the crypto field will issue tokens. He disagreed with the view of excluding those who issue tokens from the crypto field, believing that most people who issue tokens are misled by their teams and genuinely care about their fans. If they realize that these actions are harmful to their fans, they might not issue these short-sighted tokens. He emphasized the importance of these discussions to prevent other celebrities from following suit. In response, ZachXBT commented on Twitter that many D-list celebrities have previously promoted multiple scams, such as RapDoge, Echoke, and Racksterli promoted by Davido. He argued that the return of these celebrities and their posts do not mean that this time the PND tokens will be different, their only goal is to make money easily. Ansem later responded that he participated in the discussion about Jenner's token space without promoting it, but found it to be a scam. In his collaboration with Iggy Azalea, he believed she had good intentions, but informed Davido that the crypto community does not trust celebrities, especially those who sell tokens on the first day. He believes that while dialogues with celebrities still have value, it is best to guide them into the crypto community through applications.