Celebrity memecoins deployed on the Solana network's pump.fun protocol have tanked severely. Nearly all value has been erased from these projects, leaving investors and the fans of the celebrities the tokens were modeled after experiencing tremendous losses.
While some of these projects took a few months to drop, many were pump and dump scams, leaving users in the dirt hours after their launches. The ones that made it a while did not do so for more than 3 months, depicting how the lack of real utility may not sustain assets in the long run, minus a few exceptions like top memecoins.
Of course, no celebrity-related asset has made it that big, posing severe concerns for unsuspecting fans lured into investing in the assets by their favorite personalities.
Crypto analyst Slorg highlighted the celebrity memecoin trend happening this bull market on X, making stark revelations. "Below is a chart of the 30 celebrity tokens launched on Solana in June. Every single one is down. Place you® bets accordingly."
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