Andrew Tate, a social media influencer and former skilled kickboxer, not too long ago 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 detrimental reactions.
Andrew Tate’s Meme Coin Ventures Spark Chaos and Curiosity
The chaos started after Tate stated his intention to carry onto $1 million price of assorted property with “diamond palms” if his put up got a selected variety of retweets. The time period “diamond palms” is used to explain the motion of maintaining an asset for the long run, no matter its value fluctuations, resulting from a robust perception in its future worth.
Shortly after his put up achieved the required variety of retweets, he introduced his plan to “crash the Solana community.” This assertion implied that he intended to buy many tokens in Solana, sufficient to probably overload the community.
Learn extra: 7 Sizzling Meme Cash and Altcoins which are Trending in 2024
Tate shared an handle and inspired folks to ship him cash. A whole bunch 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 remodeled 100 million buying and selling by means of Solana. I’ve turned folks into millionaires. I’ve made zero. Zero. I simply purchased cash and held them to mud,” 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 exhausting, 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 embody 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 along with his historical past of making controversial content material. In mid-Could, Tate claimed to have cashed out $500,000 in Bitcoin to put money into GameStop (GME) and meme cash to spite hedge funds. This additional showcases his knack for stirring the pot within the crypto house.
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