The world of memecoins is always full of "get rich overnight" stories, but there are also many cases of total loss after just a few clicks. Recently, Dave Portnoy, the founder of Barstool Sports, became the center of attention when he was accused of rug pulling with the memecoin GREED and continued to launch GREED2. This is a wake-up call about the risks of investing in projects lacking transparency.

From "shill" LIBRA to the rug pull GREED

Initially, #DavePortnoy the LIBRA team sent tokens for promotion but refused and declared to use personal funds for investment. However, right after his name became hot from the LIBRA case, he quickly released the memecoin GREED and held nearly 36% of the total supply.

When the price of GREED peaked, Portnoy sold all his tokens, earning 258,000 USD, causing the price to drop 99% in an instant. A number of FOMO investors had to pay the price, including one wallet that lost 602 SOL (about 101,000 USD).

Just when it seemed the incident had ended, it hadn't! Portnoy launched GREED2, this time holding nearly 27% of the total supply. Currently, GREED2 has not rug pulled, but with the history of GREED, will the outcome be different?

Lessons for Memecoin Investors

📌 Don't trust KOLs just because they are famous!
Many #kol in crypto only care about personal profit, ready to pump the token price high and then dump it all, causing retail investors to lose everything.

📌 Memecoins can help you make money, but the risks are extremely high!
Without real applications, no foundational value, most memecoins only exist to pump and then dump. If you enter late, you are the liquidity for others!

📌 Look at the tokenomics and transaction history!
If an individual or project team holds a large portion of the supply, the risk of a rug pull is very high. Always check before investing!

📌 Invest with reason, not emotion!
FOMO is the biggest enemy of investors. Don't rush to buy just because you see the price rising sharply without understanding the project.

Conclusion: Stay Alert, Don't Get "Money Sucked"

Rug pulls like GREED and GREED2 will not be the last to appear in the crypto market. Keep a cool head, stay away from shady memecoins, and don't let greed make you lose your assets! 🚨 #anhbacong