ALERT 🔻 Celebrity-Endorsed Meme Coins Face Significant Declines 🚨
Celebrity-backed meme coins have seen sharp drops, with some losing more than 80% of their value from their peak. Investors are now turning to projects with real-world utility. Tokens like MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL have collectively fallen by 78% from their highs. MOTHER and DADDY, linked to Iggy Azalea and Andrew Tate, hit their peaks in mid-2024 but have since plummeted over 80%. TRUMP is down by 60%, while MELANIA has dropped over 80%. The decline in open interest for TRUMP suggests fading investor confidence. Other celebrity coins like IVANKA and JAILSTOOL have also struggled. Investors are now shifting focus to altcoins with real-world applications like DeFi and RWA, moving away from speculative meme coins. The decline in celebrity-backed meme coins highlights the risks of speculative investments and the shift towards more practical and sustainable projects.
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