Starting this week, celebrity coins have become a hot topic on CT, and the craze for meme coins has reached a new level.

On Monday, the meme coin $JENNER, which suddenly appeared, increased 160 times in one night. Its development team is from Caitlyn Jenner, a transgender woman with 33 million Twitter followers, a member of the American Internet celebrity family, Kardashian's father, and a member of the Kardashian family. Jenner not only uses Pump.fun, but also mentions Ansem, Paul and other crypto community meme OGs in the comment section to warm up the token.

Last night, celebrity coins once again blew up the meme section trading heat. Female rapper Iggy Azalea posted a tweet on X saying "Don't let your mother down", and added the contract of meme coin $MOTHER. MOTHER exploded 30 times in 2 minutes.

This morning, Iggy Azalea even opened a Space to interact with the community, and the content forwarded on the homepage was almost entirely related to meme coins.

Iggy quit Twitter last year due to "bad vibes", but has been active in posting again since May, and has been linked to Sahil Arora, the issuer of the $JENNER token. In addition, Iggy's meme coin $IGGY has also been launched.

Sahil Arora is a key figure in this celebrity meme coin craze. According to an interview with Decrypt, Sahil Arora revealed that he has participated in many celebrity projects. "Sometimes I go to them, most of the time they come to me, and then I choose who to work with. This is also the only way to make cryptocurrency more mainstream and allow them to benefit from the attention economy."

Is celebrity meme coin good or bad?

Although in Sahil's eyes, the issuance of meme coins by celebrities is a way to make cryptocurrency more mainstream, there is a huge divergence in the community's discussion about celebrity meme coins.

Many people believe that the celebrity meme coin craze will come and go just like the previous meme coin pre-sale craze. Others say that celebrity meme coins will inevitably end the same way as celebrity NFT projects: a lot of empty promises, obvious dumping on fans, and giving many new entrants a bad taste in cryptocurrencies.

The figure below is a statistical analysis of the final fate of celebrity coins and celebrity NFT projects launched in the past period of time. It can be seen that the high multiples of gains and profits are temporary, and in the end they all end up returning to zero or rug.

Image source: Autism Capital

Crypto KOL Larp von Trier even said bluntly, "I would rather die poor than support celebrity coins."

But in the eyes of another crypto KOL dubzy, this is a good thing, and all onboarding is good. If a newcomer is scammed or loses money by following these celebrities into cryptocurrency, it can still be a way for them to understand cryptocurrency and be more careful in the future.

“The initial loss may ignite the fire inside them. Some people will quit, call cryptocurrency a scam, and never look back, which is also good. Not everyone can handle the trenches, and not everyone can succeed. At the end of the day, it’s all entertainment.”

These remarks have sparked a lot of discussion in the comment section, and can even become a field research site to study how to attract the masses. Chris Burniske, former head of encryption at Ark Invest and current partner at Placeholder VC, said that “cryptocurrency will be blamed for revealing the truth about modern culture without any whitewashing.”

If the madness of the first phase of meme coins in this cycle was to tokenize attention, then the current celebrity coins are tokenizing social status.

This morning, Pump.fun announced that it has supported the live broadcast function, which means that from the production and launch of Meme coins to the promotion and operation, Pump.fun provides a one-stop, low-threshold and easier-to-use SaaS platform. This seems to be no different from Douyin live broadcast sales. If you are a star, you don’t have to worry about traffic in your live broadcast room, just like what these celebrities do when issuing meme coins.

《Pump.fun launches live streaming function, has the trend of live streaming sales spread to Meme? 》

But because everyone loves gambling, should this place become a casino?

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