{"id":32656,"date":"2024-07-24T13:00:00","date_gmt":"2024-07-24T13:00:00","guid":{"rendered":"https:\/\/yourcryptolibrary.com\/?p=32656"},"modified":"2024-07-26T15:10:31","modified_gmt":"2024-07-26T15:10:31","slug":"waarom-celebrity-crypto-coins-gedoemd-zijn-te-falen-en-hoe-je-ze-kunt-shorten","status":"publish","type":"post","link":"https:\/\/yourcryptolibrary.com\/nl\/cryptocurrency\/why-celebrity-crypto-coins-are-doomed-to-fail-and-how-to-short-them\/","title":{"rendered":"Waarom Celebrity Crypto Coins Gedoemd Zijn te Falen en Hoe Je Ze Kunt Shorten"},"content":{"rendered":"\n<p><em>In recent months, the cryptocurrency market witnessed an influx of celebrity-backed tokens, most of them launched on the <a href=\"https:\/\/yourcryptolibrary.com\/cryptocurrency\/the-rise-of-solana-what-does-it-mean\/\">Solana <\/a>blockchain. These memecoins are endorsed by celebrities and are backed by nothing more than their promise and name association.\u00a0<\/em><\/p>\n\n\n\n<p><em>This article delves into a critical perspective on these celebrity coins, and offers insights into why some investors can benefit by shorting these coins into the ground.&nbsp;<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What Happened After the Launch of 30 Celebrity Coins on Solana?<\/h2>\n\n\n\n<p>In June, 30 celebrity coins made their debut on the Solana blockchain. Just a month into their launch, the performance of these tokens has been less than stellar. On average, each coin is down 94% from its all-time high, with some experiencing even steeper declines. In an analysis made by <a href=\"https:\/\/x.com\/SlorgoftheSlugs\/status\/1816283536045072785\" target=\"_blank\" rel=\"noreferrer noopener\">SlorgoftheSlugs<\/a> we see the following trends of celebrity memecoins;\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Market<\/strong> <strong>Performance<\/strong>: Nearly half of these tokens are down over 99%, with seven others down more than 90%.<\/li>\n\n\n\n<li><strong>Market<\/strong> <strong>Cap<\/strong> <strong>Concerns<\/strong>: Twenty-two of the thirty tokens now have a market cap under $1 million.<\/li>\n\n\n\n<li><strong>Community<\/strong> <strong>Activity<\/strong>: Many celebrities haven&#8217;t tweeted recently about their associated tokens, with some having deleted their tweets or had their accounts hacked.<\/li>\n\n\n\n<li><strong>\u2018Top\u2019<\/strong> <strong>Performer<\/strong>: Even the best-performing token (Andrew Tate&#8217;s DADDY) has lost over 73% of its value.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>A few celebrities continue to actively promote their tokens, though with mixed success. The broader crypto community remains skeptical, if not completely negative towards them.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Negative Value of Meme Coins Can Mean Real Value When Shorting Them<\/h2>\n\n\n\n<p>The celebrity crypto coin scene has been a rollercoaster, to say the least. What started as a glitzy parade of big names and even bigger promises has turned into a sobering lesson for many investors.&nbsp;<\/p>\n\n\n\n<p>Looking at the data, it&#8217;s clear that most of these celebrity-backed coins have taken a nosedive. We&#8217;re not talking about minor dips here &#8211; we&#8217;re seeing drops of 90% or more across the board.&nbsp;<\/p>\n\n\n\n<p>Some say these coins are not even worth researching but if we look at it from the other side this downturn is not purely negative. Because with this volatility comes an opportunity. As high-cap meme coins have perpetual contracts available. Which means that sharp investors can potentially profit from price swings in either direction, turning the extreme volatility into a trading advantage. If you want to learn more, visit our guides on MEXC <a href=\"mexchttps:\/\/yourcryptolibrary.com\/exchange\/mexc-global\/\">here<\/a>.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>The launch of 30 celebrity coins on Solana last month and one way ticket to zero has sparked many discussions regarding the viability of celebrity memecoins future. We can not highlight the risks and the often short-lived nature of their valuations, and can only say that the correct strategy is to short these into the ground, if some exchanges permit.<\/p>\n\n\n\n<p class=\"has-text-align-center\">[reflink-mexc title=&#8221;Short Celebrity Coins on MEXC&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In recent months, the cryptocurrency market witnessed an influx of celebrity-backed tokens, most of them launched on the Solana blockchain. These memecoins are endorsed by celebrities and are backed by nothing more than their promise and name association.\u00a0 This article delves into a critical perspective on these celebrity coins, and offers insights into why some [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":32661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[78],"tags":[1212,1211,560],"class_list":["post-32656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-celebrity-crypto-coins","tag-meme-coins","tag-solana"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why Celebrity Crypto Coins Are Doomed To Fail and How To Short Them | Cryptocurrency | YourCryptoLibrary<\/title>\n<meta name=\"description\" content=\"Dive into the 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