In a latest Instagram submit, American rapper Gazzy Garcia, higher generally known as Lil Pump, revealed his new brow tattoo that includes Solana.
The rapper, recognized for his hit 2017 single “Gucci Gang,” shared along with his 14 million followers that he has bought his Solana tokens, captioning the submit with, “Like my new tats? I bought my SOL.”
The submit shortly acquired over 147,000 likes and greater than 2,000 feedback, with followers expressing blended reactions to the rapper’s new stunt.
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Most feedback on the Instagram submit have been damaging, with customers questioning the authenticity of the tattoo and expressing disappointment. One follower mentioned, “We’d like the outdated Pump again.”
In the meantime, just a few members of the neighborhood speculated that the tattoo might probably increase Solana’s value, with one consumer commenting, “To the moon! Gucci acquire, Gucci acquire, Gucci acquire!”
On X, the reactions have been equally harsh. Dylan Loomer, founder of crypto prop agency Breakout Prop, mentioned:
Your crypto grifts are as dangerous because the music you make. The excellent news is you might be so dangerous at each you’ll be able to’t become profitable doing both. [REDACTED]
This incident emerges throughout a pattern of declining worth in celebrity-endorsed crypto initiatives. Tokens related to former Olympian Caitlyn Jenner (JENNER) and rappers Wealthy the Child (RICH) and Iggy Azalea (MOTHER) have lately seen value drops, falling by 4.69%, 9.11%, and 14.23%, respectively, within the final 24 hours.
Including to the frenzy, controversial web character Andrew Tate promoted a brand new Solana-based memecoin referred to as Daddy Tate (DADDY) on June 11, which has elevated by almost 13% regardless of going through insider buying and selling allegations.
The rise and fall of celebrity-backed tokens have drawn criticism from distinguished figures within the crypto neighborhood. Ethereum co-founder Vitalik Buterin has voiced issues over the craze, emphasizing that monetary initiatives ought to present societal worth reasonably than purely speculative ventures.
Total, Lil Pump’s newest stunt displays the affect of celebrities within the crypto market, the place hype typically results in declines.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Battle II period.With near a decade of expertise within the FinTech business, Aaron understands all the largest points and struggles that crypto fans face. He’s a passionate analyst who is worried with data-driven and fact-based content material, in addition to that which speaks to each Web3 natives and business newcomers.Aaron is the go-to individual for all the things and something associated to digital currencies. With an enormous ardour for blockchain & Web3 training, Aaron strives to remodel the house as we all know it, and make it extra approachable to finish learners.Aaron has been quoted by a number of established retailers, and is a printed writer himself. Even throughout his free time, he enjoys researching the market developments, and on the lookout for the subsequent supernova.
