The memecoin craze is luring investors to chase quick profits, while some celebrities are capitalizing on the trend, launching or promoting tokens and often veering into scams.
The 2024 Bitcoin bull market has reignited investors’ hunger for profits, with eager degen traders diving into the memecoin supercycle, chasing volatility and massive gains.
Sensing opportunity, celebrities have minted tokens under their brands, but many have faced backlashes and been accused of running scams.
Celebrity crypto endorsements have popped up during every bull market, often triggering a jolt of embarrassment among experienced traders when celebrities — or near-celebrities — make impossible promises with token projects.
