In a latest Instagram put up, American rapper Gazzy Garcia, higher generally known as Lil Pump, revealed his new brow tattoo that includes Solana.
The rapper, identified for his hit 2017 single “Gucci Gang,” shared together with his 14 million followers that he has offered his Solana tokens, captioning the put up with, “Like my new tats? I offered my SOL.”
The put up shortly obtained over 147,000 likes and greater than 2,000 feedback, with followers expressing combined reactions to the rapper’s new stunt.
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Most feedback on the Instagram put up had been damaging, with customers questioning the authenticity of the tattoo and expressing disappointment. One follower stated, “We want the previous Pump again.”
In the meantime, just a few members of the neighborhood speculated that the tattoo might probably increase Solana’s value, with one consumer commenting, “To the moon! Gucci acquire, Gucci acquire, Gucci acquire!”
On X, the reactions had been equally harsh. Dylan Loomer, founder of crypto prop agency Breakout Prop, stated:
Your crypto grifts are as dangerous because the music you make. The excellent news is you’re so dangerous at each you possibly can’t become profitable doing both. [REDACTED]
This incident emerges throughout a pattern of declining worth in celebrity-endorsed crypto initiatives. Tokens related to former Olympian Caitlyn Jenner (JENNER) and rappers Wealthy the Child (RICH) and Iggy Azalea (MOTHER) have just lately seen value drops, falling by 4.69%, 9.11%, and 14.23%, respectively, within the final 24 hours.
Including to the frenzy, controversial web persona Andrew Tate promoted a brand new Solana-based memecoin known as Daddy Tate (DADDY) on June 11, which has elevated by almost 13% regardless of dealing with insider buying and selling allegations.
The rise and fall of celebrity-backed tokens have drawn criticism from distinguished figures within the crypto neighborhood. Ethereum co-founder Vitalik Buterin has voiced considerations over the craze, emphasizing that monetary initiatives ought to present societal worth relatively than purely speculative ventures.
General, Lil Pump’s newest stunt displays the affect of celebrities within the crypto market, the place hype typically results in declines.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Warfare II period.
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