American singer and dancer Jason Derulo has not supplied any updates on his meme coin JASON since July, elevating issues in regards to the destiny of the cryptocurrency regardless of its future and improvement made many guarantees.
On-chain sleuth ZachXBT uncovered Derulo’s silence on the challenge in a current investigation tweetcondemning influencers who promoted the token when it was launched. Zach insists influencers are incorrect to assume Mission JASON is completely different from greater than 15 earlier scams promoted by Derulo.
Derulo’s “Dedication” to JASON
Three months in the past, Derulo joined a rising checklist of celebrities roll out Meme coin launches his challenge on the Solana community. The favored musician has printed a number of posts in regards to the forex, created memes across the challenge, and inspired group members to become involved by investing.
As Zach recollects, Derulo assured customers that he would not cheat on them like different celebrities had performed complete. He introduced his long-term dedication to the cryptocurrency house and his initiatives, saying he needed to “see everybody in our group win.”
Derulo even partnership Accomplice with different initiatives, such because the Solana-based Motion trade, to simplify the onboarding course of for cryptocurrency newbies who need to purchase JASON. He additionally struck a deal to permit JASON holders to make use of the token to purchase houses in Dubai and took part in a number of interviews in regards to the challenge.
Whereas some group members see the potential for Derulo’s efforts to onboard hundreds of thousands of latest customers to cryptocurrencies, others criticize the plan and query its legality. Responding to skeptics, Derulo insists his memecoin challenge has no motive of fraud as he was “wealthy af” has a reputation and model to guard, and built Billion greenback firm.
Jason plunged 87%
Throughout Derulo’s lively promotion of JASON, the token’s market cap soared to $27 million, and the singer hinted that the token’s market cap may soar to $1 billion over time. Because the mania and hype subsided, JASON has misplaced greater than 87% of its worth, with its market cap plummeting to $1.28 million. in keeping with data In response to information from CoinMarketCap, the coin is price $0.00122 on the time of writing.
To make issues worse, Derulo hasn’t posted X in regards to the coin since late July, when he explain He’s growing a roadmap for partnerships and plans to assist revitalize this system.
In the meantime, Zach stated Derulo posted on September 3 selling one other meme token, however deleted the tweet shortly after.
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