Kardashian Family Enters the Meme Coin Market
As the ETF market stabilizes, players’ expectations for meme coins on Ethereum (ETH) continue to rise. The rising price of Ethereum has fueled the meme market, and the positive attitude towards cryptocurrencies revealed during the US election has only added to the excitement. The speed at which new meme topics are iterated has even surpassed the speed at which people change their investments.
Today, the meme coin $Jenner, launched by Caitlyn Jenner, the stepfather of the famous American influencer family, the Kardashians, has flooded the market. From Pump.fun to the secondary market, the coin’s price has skyrocketed, impressively multiplying by thousands.
However, the development of this whole affair is quite dramatic:
Father Kardashian Launches the Coin
The reality TV show “Keeping Up with the Kardashians” has been recorded for fourteen years and is a well-known program in the United States, focusing on the daily lives of the Kardashian family. Therefore, Caitlyn Jenner, the transgender woman and stepfather of the Kardashian sisters, is also considered a national-level influencer.
Around 4 a.m., Caitlyn Jenner’s Twitter account posted a photo of her shaking hands with Donald Trump, accompanied by the caption “make america great again!!! and we love crypto!” and a link to the $Jenner token on pump.fun. She then tagged several famous crypto Key Opinion Leaders (KOLs) on Twitter, referring to them as “crypto kings!”
Caitlyn Jenner’s tweet immediately caught the attention of a large number of social media players. However, since she had not previously been involved in the crypto space, many players initially thought that Caitlyn Jenner’s account had been hacked, and that hackers were exploiting her influence to make quick money.
As the price of the coin continued to rise, the truth behind the situation became more ambiguous.
Price Soars, Truth Becomes Murky
But opportunities are fair, and while some hesitated, others had already bought in at lightning speed. Within half an hour of going live, $Jenner had surged 15 times. As the price kept rising and players nervously bought in, Dev, the developer, dumped tokens worth 160 SOL, causing the price to plummet. The comments on pump.fun were filled with mockery and insults, and players became even more convinced that this was a trick after Caitlyn Jenner’s account was hacked.
Subsequently, the price of the coin naturally declined. At this point, a reversal occurred: Caitlyn Jenner posted a Story about the $Jenner token on her Instagram account, and her manager, Sophia, also shared this Story. At the same time, Caitlyn Jenner actively responded to players’ comments on Twitter, stating that her account had not been hacked.
Could it be that the hackers were staging a full act? If it wasn’t hackers, then why did Dev sell the tokens? Players remained skeptical and launched a new wave of attacks on $Jenner.
Soon after, Caitlyn Jenner posted a video on Twitter showing her face, confirming that $Jenner was indeed released by her team. She mentioned that she was currently playing golf, so she could not appear in person at the moment.
The release of the video alleviated most of people’s concerns, and the price of $Jenner started to surge rapidly.
Just as players were starting to celebrate, new doubts arose: Some people began accusing Dev of past fraudulent behavior and claimed that Caitlyn Jenner’s recent video was forged using AI technology. FUD (Fear, Uncertainty, and Doubt) spread, and $Jenner immediately plummeted.
Seeing the situation getting out of control, Caitlyn Jenner’s Twitter account directly hosted a Space (a feature on Twitter for live audio conversations), and her manager, Sophia, planned to personally debunk the rumors in the Space. As a result, the tweets that had solid evidence of “debunking” disappeared, and the token’s price started another round of surges. Just when everyone thought “This is settled,” an unexpected twist occurred: In the Space, Sophia mentioned that the team might launch a new token. Fatigued players started panic-selling the tokens, causing the price of $Jenner to plummet once again, with the candlestick chart showing a sense of despair.
During the spiral decline in price, Caitlyn Jenner’s Twitter account announced that the team would focus solely on $Jenner and would not launch any other tokens.
Retail investors who had been tossed around for a couple of hours were left speechless. Such a dramatic event sparked continuous discussions within the Twitter community, and Caitlyn Jenner actively retweeted the community’s discussions on $Jenner.
With $Jenner gaining popularity, some retail investors were hesitant to invest. However, driven by the “rather kill by mistake than let it go” mentality, they once again pushed the price of $Jenner higher.
With both price and popularity, Caitlyn Jenner took the opportunity to release a new video on Twitter. In the video, Caitlyn Jenner appeared in a bathrobe, addressing the doubts and debunking the rumors on Twitter.
After the video was released, hesitant retail investors took a leap of faith, and the token’s price eventually skyrocketed. As of now, $Jenner has increased nearly a thousand times from earlier, and the price remains high.
While there are still doubts about Dev’s token dumping behavior, looking at the price trend, retail investors have decided to buy into the story of $Jenner. The series of emergency Spaces and face reveal videos by Caitlyn Jenner and her team has undoubtedly been a tumultuous journey. Whether it was internal conflicts within the team or lack of experience, the first token launch has surely left a deep impression on the entire team. But when influence can easily be monetized, why wouldn’t the team take advantage of it? Although the process has been full of twists and turns, with the price of $Jenner rising, it’s certain that Caitlyn Jenner’s team has made money.
However, the same cannot be said for the retail investors who have been struggling alongside them. Being tossed around multiple times in half a day, it’s quite distressing for those who have invested real money. Even experienced players are calling it a drama.
Those who are familiar with the Kardashian family may know that their lives are already dramatic enough on their reality show. However, for retail investors in the crypto market, this kind of drama may be just an ordinary daily occurrence.
In the crypto market, one day feels like a year, and retail investors, who are constantly bombarded with numerous new narratives, inevitably become exhausted from the constant rollercoaster of price crashes and surges, aging at an accelerated pace.
It’s difficult to determine the truth of the story, but the only thing that is certain is that behind this chaotic story, it is always the retail investors who are left confused and empty-handed.
This article was originally published on DeepChain.
