July 24, 2024
Lil Pump Tattoos 'Solana' After Selling SOL Tokens
Latest Cryptocurrency News

Lil Pump Tattoos ‘Solana’ After Selling SOL Tokens

American rapper Gazzy Garcia, widely known as Lil Pump, recently shared an Instagram post showcasing what appears to be a tattoo of the blockchain platform Solana. In his post, Lil Pump mentioned that he has already sold his Solana (SOL) tokens, asking his 14 million Instagram followers for their opinions on his new tattoos. “Like my new tats? I sold my SOL,” Garcia wrote.

Lil Pump sharing a new tattoo with his followers. Source: Lil Pump

Fan Reactions to Garcia’s Tattoo

Lil Pump, famed for his 2017 single “Gucci Gang” which peaked at number three on Billboard’s Hot 100 list, faced mixed reactions from his fans on Instagram. Many fans were displeased with the tattoo, with one user lamenting the loss of the “old pump” and another expressing disbelief at the idea of removing tattoos from the forehead only to replace them with “some dumber ones.” Some commenters questioned the authenticity of the tattoo, while others celebrated its potential to boost SOL’s price. One enthusiastic community member commented, “To the moon! Gucci gain, Gucci gain, Gucci gain!”

Comments on Lil Pump’s Instagram account. Source: Instagram

On X (formerly Twitter), the reaction was also critical. Community member Trader Mayne harshly criticized Lil Pump and his involvement in cryptocurrency, stating, “Your crypto grifts are as shitty as the music you make. The good news is you are so bad at both you can’t make money doing either,” highlighting the skepticism towards Garcia’s crypto endeavors.

Celebrity-Backed Crypto Projects Face Decline

Garcia’s new tattoo coincides with a broader trend of celebrity-backed crypto projects experiencing significant downturns. As of June 6, many tokens launched by celebrities have plummeted by at least 66%. Tokens associated with notable figures such as Caitlyn Jenner, American rapper Rich the Kid, and Nigerian singer David Adedeji Adeleke (Davido) have all seen substantial declines following their initial gains.

Additionally, cryptocurrencies linked to other celebrities, including boxing legend Floyd Mayweather and American rappers Moneybagg Yo (SPEAK) and Trippie Red (BANDO), have suffered drops of about 90%. Despite these downturns, celebrities continue to launch new tokens. For instance, on June 11, controversial social media personality Andrew Tate promoted a Solana-based memecoin called Daddy Tate (DADDY), which quickly outperformed Iggy Azalea’s project despite allegations of insider trading.

Meanwhile, Ethereum co-founder Vitalik Buterin has voiced his disapproval of the celebrity-driven memecoin trend. Buterin argues that financialization should only be justified if it brings societal value, such as improving healthcare or promoting art and creativity, expressing concern over the current focus on profit over genuine value creation.

Image by Flickr

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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