Celebrity Coin Harvest Record: 15 Tokens Dropped by More Than 90% in 60 Days

Written by: Lila, BlockBeats

On January 18, US President Trump launched his personal official meme coin TRUMP on the social platform, instantly detonating the crypto market. This is the first time that a senior national leader has issued a personal token. Five hours after the launch, the market value of TRUMP exceeded 20 billion US dollars, and the highest market value was nearly 80 billion US dollars. The president's coin issuance + the pull behavior that lasted for nearly 24 hours also brought enough heat to "Trump Coin".

Good and bad are interdependent. Before native crypto users can enjoy the new cash flow brought by the popularity of the circle, negative effects have already followed. Under Trump's "leadership", more heads of state and celebrities in various fields of society have started an unrestrained wave of coin issuance. And TRUMP itself has also exacerbated the liquidity crisis in the currency circle, which is already stretched to its limits. There will be a sharp rise and a sharp fall, and the carnival bubble bursts faster than we think. One month after the launch of the token, the price of TRUMP has fallen from the highest point of $80 to $13 as of press time, a drop of more than 80% from the high point, and the decline of the same-name meme coin MELANIA issued by Trump's wife Melania and the "Argentine Presidential Coin" LIBRA has even exceeded 90%.

In addition to celebrities issuing coins directly, sickles have also found a new way: cooperate with celebrities, publish token information, and then pretend that Twitter has been stolen to sever ties. Well-known artist Kanye once said that someone offered him $2 million to release the RUG plate meme coin. From January to now this year, according to incomplete statistics from the editor of rhythmic BlockBeats, no less than 15 celebrities from all walks of life have launched tokens in various ways. Except for TRUMP and STONKS, the rest have fallen by more than 90%.

Celebrity real-name coin:

TRUMP (down 83.9% from its high point)

Highest price: 82 Price as of press time: 13.23

On January 18 this year, the official social account of US President Trump announced the launch of Trump’s eponymous meme coin TRUMP, and then Trump’s personal account and Trump’s second son Eric Trump tweeted to confirm TRUMP "legitimacy". TRUMP was listed on OKX, Coinbase, Binance and other leading trading platforms just 24 hours after its launch, setting a record for the shortest time for a token to be listed on spot. At the same time, there was almost no callback after its release. The unit price exceeded US$7 billion in 48 hours, the circulating market value exceeded US$14 billion, and the total market value once exceeded US$70 billion.

However, the issuance of TRUMP blurred the boundaries between politics and business. According to its official website, two subsidiaries of the Trump Group control 80% of the total tokens, with an initial circulation of only 200 million, and the remaining 800 million will be gradually unlocked in the next three years. This highly centralized distribution model has been criticized by insiders and politicians as "legal money printing", which directly brought more than US$25 billion in book wealth appreciation to the Trump family.

However, meme coins without value are ultimately difficult to support, even if the coin is bound to the President of the United States. After reaching the high point, TRUMP slowly fell, and after a brief sideways movement for a few days, it “harvested” all the way. It is currently in a slump. As of press time, it has fallen from a high of $80 to $13, a drop of more than 80%. This result is both a falsification of the market’s “favorable policy expectations” and an inevitable result of excessive liquidity withdrawal. Related reading: "Trump's coin issuance makes Chinese people earn hundreds of millions, and the American crypto-faction is split" MELANIA (93.3% down from the high point) Highest price: 13.6 Price as of press time: 0.92 On January 20, after seeing the huge profits of TRUMP, the coin issuance group targeted Trump's wife Melania and issued the meme coin MELANIA in her name. FDV exceeded 10 billion US dollars 4 hours after the launch, and the transaction volume reached 658 million US dollars. However, the token economic model has been criticized by the community: 35% team share, 20% treasury, 20% community, 15% public offering, and 10% liquidity. On the next day, MELANIA fell below 4 US dollars, with a 24-hour drop of nearly 70%. This incident not only accelerated the collapse of TRUMP coins, but also revealed the capital logic of "family-style harvesting".

In addition, MELANIA team tokens have been unlocked since February 19, and will be fully unlocked within the 13th month. Related reading: "2 days before taking office, the Trumps took away $65 billion from the currency circle"

VINE (92.2% down from the high point)

Highest price: 0.49 Price as of press time: 0.037

On January 23, Rus Yusupov, one of the founders of the short video platform Vine, issued the meme coin of the same name, VINE. Vine is a short video platform that X (formerly Twitter) announced to close in 2016. Similar to TikTok, it allows users to create short videos of up to 10 seconds and share them on social networks. Since Musk acquired Twitter in 2022, he has repeatedly expressed the idea of ​​restarting Vine on social media. Yusupov said, "I launched this Meme coin to commemorate the beauty of unity and creation. I will not sell my Dev token share, and all profits will be donated to X." Perhaps influenced by the expectation that "Musk will interact with it", VINE's market value once exceeded US$400 million. Related reading: "Founder issues coin to raise $200 million, Musk's short video Vine makes a comeback"

Ainti (94.23% down from the high point)

Highest price: 1.06 Price as of press time: 0.065

On January 23, the X account of the late antivirus software founder John McAfee released the AI ​​Meme coin AIntivirus (Ainti) token contract. It is reported that the tweet was forwarded by McAfee's widow Janice Elizabeth McAfee, who said that this was an initiative to commemorate her husband's genius image and continue his legacy. The new project will integrate McAfee's core concepts such as freedom, privacy and technology, and combine cryptocurrency with AI technology. (Note: On June 23, 2021, John McAfee died in a Spanish prison.)

CAR (98.33% down from its high point)

Highest price: 0.88 Price at press time: 0.015

On February 10, the President of the Central African Republic launched the meme coin CAR. Three hours after its launch, CAR's market value exceeded $600 million and its transaction volume exceeded $300 million. According to the official website of the CAR token, the total number of CARs is 1 billion, but the public allocation accounts for only 9.3%.

Tokens launched after social accounts were “stolen”:

CUBA (99.36% down from high point to date)

Highest price: 0.02 Price as of press time: 0.0001

On January 20, the official X account of the Cuban Ministry of Foreign Affairs promoted the meme token CUBA after being hacked. The original post was deleted on the same day, and CUBA plummeted 99.36% within 24 hours.

FINN (99% drop from the high point)

Highest price: 0.009 Price at press time: 0.00001

On January 21, MetaMask co-founder Dan Finlay's Farcaster account was stolen to promote the meme coin FINN. On the same day, the meme coin was already rugged, and the creator's initial funds may have come from a certain mixing platform, and the profit exceeded 1,000 SOL.

STONKS (53.3% down from the high point)

Highest price: 0.078 Price at press time: 0.036

On January 23, the official Nasdaq X account was hacked and posted a tweet about the meme coin STONKS. The tweet was quickly deleted, causing the market value of STONKS to be halved. However, STONKS gradually recovered under the takeover of the community and established a strong consensus, which is also an important reason why its coin price is stronger than other tokens.

BRAIZIL (99.7% drop from high point)

Highest price: 0.021 Price at press time: 0.0005

On January 24, the account of former Brazilian President X was hacked and released the Meme coin BRAIZIL representing Brazil. The original post was deleted in a short time, and the token price plummeted.

TIME (97.8% drop from high point)

Highest price: 0.13 Price at press time: 0.0003

On January 31, the official Twitter account of Time magazine was hacked and released information about the TIME token. After the tweet was deleted, the token price plummeted rapidly.

DAILY (98% drop from high point to date)

Highest price: 0.003 Price at press time: 0.00006

On February 2, the British Daily Mail officially tweeted to promote the meme coin DAILY. At the peak of the market value, the Daily Mail deleted the relevant tweet, causing the token price to plummet.

MALAYSIA (99.56% decline from the high point)

Highest price: 0.003 Price as of press time: 0.00001

On February 5, the X account of former Malaysian Prime Minister Dr Mahathir Mohamad was stolen, and he continuously posted multiple tweets to promote the meme token MALAYSIA. According to SlowMist monitoring, the creator of the CA is related to a historical evil gang.

Celebrities participate in token promotion:

JAILSTOOL (92.76% down from its high point)

Highest price: 0.21 Price as of press time: 0.015

On February 8, Dave Portnoy, the founder of Barstool Sports in the United States, participated in promoting the meme token JAILSTOOL. Barstool Sports was originally just a small sports newspaper distributed by Dave in the subway, and later developed into a multi-million dollar business empire. Dave is also an Internet celebrity in the United States, and has attracted much attention for his sharp pizza reviews and crazy sports betting.

He has started to get involved in cryptocurrencies in recent years, often casually buying some tokens on Solana and sharing his operations on Twitter. On February 8, Dave bought $200 worth of JAILSTOOL. People didn't care at first, but he thought the token was very interesting and told investors that he would not sell it and continued to increase his position. The price of JAILSTOOL rose wildly due to his tweet. In just 3 hours, the market value soared to $150 million. Related reading: "$JAILSTOOL Speed ​​Pass Review: A celebrity tweet soared to a market value of $150 million in 3 hours"

LIBRA (down 97.3% from the high point)

Highest price: 4.53 Price as of press time: 0.12

On February 15, the President of Argentina issued a message to promote the meme coin LIBRA, and the highest market value of LIBRA exceeded $4 billion. But after Milei deleted the tweet, LIBRA's market value plummeted, and the team behind it cashed out more than $100 million. More than 20 LIBRA traders lost more than $1 million, and the biggest loser lost more than $5 million. So far, the insider mystery about LIBRA's issuance has not been solved. Related reading: "After the Argentine currency was cut by 100 million, what inside information did the community dig out in 36 hours"

In addition, the famous American rapper Kanye announced last week that he would launch his personal official meme coin YEEZY, saying that "YEEZY aims to create a real currency." But just yesterday, Kanye suddenly announced that he would temporarily withdraw from X, and the coin issuance plan may be stagnant.

Summary

TRUMP's crypto carnival ended with more than 370,000 people liquidating their positions and $1 billion being wiped out. Overall, although celebrity coin issuance once attracted a lot of market attention, its short-lived high popularity also exposed the fragility of the market. If you don't run fast enough, you will be harvested. When the celebrity halo fades, what is left in the market is not only the steep ups and downs on the K-line chart, but also the ultimate questioning of the decentralized ideal: If the crypto world becomes a puppet of power and traffic, has its promise to subvert tradition already become a vain narrative? The answer may be hidden in the silence before the next bubble rises.