Andrew Tate, a social media influencer and former professional kickboxer, recently sparked controversy in the crypto community. On Friday, he began promoting various tokens on the solarium (SUN) ecosystem while posting inflammatory statements on Twitter, creating a social media storm.
Known for his provocative social media presence, Tate's actions have once again sparked a whirlwind of positive and negative reactions.
Andrew Tate's Meme Coin Ventures Cause Chaos and Interest
The chaos began after Tate. fixed his intention to keep various assets worth a million dollars with “diamond hands” if his position got a specific number of retweets. The term “diamond hands” is used to describe the action of holding an asset for the long term, regardless of fluctuations in its price, due to a strong belief in its future value.
Shortly after his post reached the required number of retweets, he announced his plan to “block the Solana network.This statement implied that he intended buy a lot of tokens on Solana, enough to potentially overload the network.
Read more: 7 popular meme coins and altcoins that will trend in 2024
tate shared an address and encouraged people to send him coins. Hundreds of different coins flooded in. He burned some and promoted RNT all day. Despite receiving many coins, Tate claimed that he made “zero” money from these activities.
“I have made more than 100 million transactions through Solana. I have turned people into millionaires. I have done zero. Zero. I just bought coins and turned them into dust,” she said. wrote in your X account.
Andrew Tate's involvement in Solana is significant impacted the meme coin market. Real Nigger Tate (RNT), who has been shilling hard, it reached a market capitalization of $61.1 million.
Another coin, TOPG, reached a market capitalization of $38.01 million. The TOPG developer allocated 58% of the supply to Tate, which he then burned. Additionally, TATE reached a market capitalization of $5.8 million, exemplifying the contagious popularity of these meme coins.
Following Tate's actions, a series of Tate-associated meme coins hit the market. For example, G, linked to Tate's dog, reached a market capitalization of $4.5 million. GRETA, inspired by Tate's past encounter with Greta Thunberg, reached a market capitalization of $4.6 million, with Tate receiving 50% of its bid.
Other notable coins include WARROOM, which is associated with Tate's private club, and reached $3 million in market capitalization. Meanwhile, EMORY, related to her father, and FTRISTAN, derived from a disagreement with her brother, reached market capitalizations of $2.8 million and $1.7 million, respectively. RBASE also reached a market capitalization of $1.7 million.
Read more: Top 11 Solana Meme Coins to Watch in June 2024
Although Tate's motives remain unclear, his actions align with his history of creating controversial content. In mid-May, Tate claimed to have withdrawn $500,000 worth of Bitcoin to invest in GameStop (GME) and meme coins to spite hedge funds. This further shows his ability to stir the pot in the crypto space.
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