Rugged meme coins some naija celebrities have launched this year

[Antotena]

A scam is very easy to coordinate in Nigeria especially when you are a celebrity and they are not questioned about the behaviour especially when you are very loved by fans, they hardly see the bad side of them and even when they see, they don't speak out because they are afraid to speak up or they don't want the fan base to come for them.

In the past during the ICO time, some of them participated in some projects and involved their fans but the Nigerian Security Exchange Commission didn't invite them, some of them promoted NFTs that are now down to nothing and the commission didn't charge them like other countries and this seems to have gotten over there head.

This season, some of them have launched the famous meme coins, the humerus coins people launched for fun and many people don't know what Memes are about, they are just ready to risk their savings over obvious scams, some people will say memes are not scams but why but a coin that the founder will rug you and abandoned layer. I will list some of the meme coins launched by celebrities this bull cycle and they are all rugged.

1. $Davido Coin: It all started when Phantom made an announcement about Davido starting crypto, he launched a meme coin and it gains some profits and barely 11 hours, he sold token worth $474k immediately and since then the token is almost dead. Some influencers are not helping the crypto community despite when the coin was dying, they were giving their followers some hope to buy with hope of recovery and to date, it's now worthless. The chart is below.



2. Sabicoin: Everyone loves Sabinus, but he is also among celebrities who take advantage of people's dumbness in the name of meme coins. He launched the coin and rugged it and left the community. He had deleted everything about it on his page and never spoken about it because it's a meme but it's indirect rugging and planned taking away money from his fans.



3. Jotta Coin: Everybody knows Brainjotter for his humorous dance moves and jokes but he is also not left out with the meme coin. He even rebranded his own and called it a charity coin for people, they did marketing and promoted the meme coin but it's just the usual ways of them. It was quick to launch but today, the liquidity is empty, and everything is drained.
Here is a video of how he promoted the coin and went to the street to make people talk about the coin.  

https://x.com/themahleek/status/1829978393598624123?s=46&t=qJXYidUv-9dGH9cW3Joe_A

A lot of people invested the money they made from $Dogs airdrop to invest in Jotta coin but lost everything.

No law guides meme coins and as such, when you lose your money in the investment, it's your responsibility but this is what many people don't know and this is what most of these celebrities do to make extra money from their ignorant fans.

Word of advice, meme coins are not investment instruments, stay away if you can.

[AVE5]

A lot of people invested the money they made from $Dogs airdrop to invest in Jotta coin but lost everything.

No law guides meme coins and as such, when you lose your money in the investment, it's your responsibility but this is what many people don't know and this is what most of these celebrities do to make extra money from their ignorant fans.

Word of advice, meme coins are not investment instruments, stay away if you can.

Truth be told, that local instincts of "make we help ourselves and embraces our own" brings investors down or leading people to lost their funds.
Knowing very well that the potential of such local coin developers may not be so truth worthy, some crypto investors would assume because the coins developers are part of us, let's give it a patronage and they'd lost the aids of making proper researches before venturing on purchasing the coin.
As for me, reputation is the attractiveness of adopting a coin and not to develop familiarities where may only benefit the developers when the coins flops or becomes a shit.

[Doan9269]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

[iBaba]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

I just want to believe that these celebrities launched those coins for the sake of popularity and probably making some money via advertising and publicity, else, what it takes to launch a big project like launch of a coin is way beyond just making announcements without the necessary arrangements and preparations. The same or let's say similar unpreparedness was faced by the Hamster Kombat project which end up accumulating large community with little performance.

[Igebotz]

I just want to believe that these celebrities launched those coins for the sake of popularity and probably making some money via advertising and publicity, else, what it takes to launch a big project like launch of a coin is way beyond just making announcements without the necessary arrangements and preparations. The same or let's say similar unpreparedness was faced by the Hamster Kombat project which end up accumulating large community with little performance.

It doesn't cost much to laugh at a shitcoin on a DEX exchange; all you have to do is hire a developer. Davido launched his scam coin with less than $2k, gave a few liquidity, and advertised the entire shit on his social media accounts, attracting others and duping them. All of the coins on the DEX are pump and dump crap. No legitimate project launches on Dex exchanges, only projects with dubious backgrounds.

[Troytech]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

It may be true that these shitcoins were launched by the aid celebrities. The way they perform in the market might result from their influence. If a celebrity is very influential the coin will go viral and have a good performance over some time and even if he is not that influential he can pay an influencer to do the hype and everything surrounding the shitcoin.

The difference between these shitcoins and other solid projects is that they stay long in the market. I promise you that these celebrities' coins won't survive the market for long if there are no good use cases of the coin.

[Jegileman]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

Your claim might be right and at the same time it might be false. The celebrities may decide not to be in the frontline picture of the whole thing so that when the after effect hits, there’s no way it can be linked to them or they will be penalized for scamming people into investing in such coins. Meme coins were not designed to hold for a long time but designed for the short time profit, but celebrities like this have taken advantage of it or maybe we rather say, people have used their names in disguise to scam people into investing in this tokens. It is always advisable to do your own research anytime you wish to take on any investment and not only peculiar to cryptocurrency.

[Sticky Bomb]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

Firstly, citing that brainjotter's promotional video and a slight peak into the others suggests that these projects were more like Ponzi and not having a clear roadmap to stimulate a long term project. A lasting project should have a clear roadmap and should keep delivering on the milestones until the project is mature enough through community engagement and proper utility patterns to be launched and controlled to prevent massive selloffs that would lead to a serious dump of the coin by early investors and creating significant losses for the later investors and rendering the token worthless.

In a serious project, there should be obvious official partnerships in order to promote the sustainability of that project and also create some solid liquidity to  back up the project. Brainjotter launching a coin and telling the fans that people cannot pump and dump the coin and banking only on his account as liquidity is a clear evidence of lack of prospects in his project since his net worth can never sustain a promising project for a long period of time.

There were also little or no real world integration of these tokens, they were there to solve no problems unlike bitcoin that serves as a hedge against inflation or USDT that is a stable coin pegged to the dollar or Ethereum that solves the issue of DAPPs integrations and smart contracts. i saw all of these projects but none made sense to me, so I avoided them. It surely did not disappoint to liquidate unsuspecting investors funds and fade to sheer nothingness almost immediately.

All I could see from these influencers actions were Ponzi schemes launched on the crypto space.

[Cryptomultiplier]

A scam is very easy to coordinate in Nigeria especially when you are a celebrity and they are not questioned about the behaviour especially when you are very loved by fans, they hardly see the bad side of them and even when they see, they don't speak out because they are afraid to speak up or they don't want the fan base to come for them.

In the past during the ICO time, some of them participated in some projects and involved their fans but the Nigerian Security Exchange Commission didn't invite them, some of them promoted NFTs that are now down to nothing and the commission didn't charge them like other countries and this seems to have gotten over there head.

This season, some of them have launched the famous meme coins, the humerus coins people launched for fun and many people don't know what Memes are about, they are just ready to risk their savings over obvious scams, some people will say memes are not scams but why but a coin that the founder will rug you and abandoned layer. I will list some of the meme coins launched by celebrities this bull cycle and they are all rugged.

1. $Davido Coin: It all started when Phantom made an announcement about Davido starting crypto, he launched a meme coin and it gains some profits and barely 11 hours, he sold token worth $474k immediately and since then the token is almost dead. Some influencers are not helping the crypto community despite when the coin was dying, they were giving their followers some hope to buy with hope of recovery and to date, it's now worthless. The chart is below.



2. Sabicoin: Everyone loves Sabinus, but he is also among celebrities who take advantage of people's dumbness in the name of meme coins. He launched the coin and rugged it and left the community. He had deleted everything about it on his page and never spoken about it because it's a meme but it's indirect rugging and planned taking away money from his fans.



3. Jotta Coin: Everybody knows Brainjotter for his humorous dance moves and jokes but he is also not left out with the meme coin. He even rebranded his own and called it a charity coin for people, they did marketing and promoted the meme coin but it's just the usual ways of them. It was quick to launch but today, the liquidity is empty, and everything is drained.
Here is a video of how he promoted the coin and went to the street to make people talk about the coin.  

https://x.com/themahleek/status/1829978393598624123?s=46&t=qJXYidUv-9dGH9cW3Joe_A

A lot of people invested the money they made from $Dogs airdrop to invest in Jotta coin but lost everything.

No law guides meme coins and as such, when you lose your money in the investment, it's your responsibility but this is what many people don't know and this is what most of these celebrities do to make extra money from their ignorant fans.

Word of advice, meme coins are not investment instruments, stay away if you can.

The truth is that the Nigerian community and populace has not quite fully understood the workings of these meme coins and other cryptos in particular because if they did understand how cryptocurrency and tokens work, then we would get to know how to take advantage of a new launch, rather than rush in because they want to make a celebrity wealthy or because they want to get rich quick if things are right with the newly launched token or coin.

I wonder why the Nigeria government is blind to the rise of individuals launching their own meme coins or tokens and its in same country where they imposed regulations for exchanges and still want to collect taxes from any other crypto currency businesses thriving within that these individuals launched theirs.
Isn't this launch by celebrities an offense to the government?

[HajiBagi]

From the first time of saw this coins I didn't believe them, I didn't even have a mind thinking if I could invest in them or not, a good coin doesn't need to be advertised, for me a good coin advertises itself by showing a good sign for the investors, anyone who invests in this coin did not do any research about this coin if not they won't even think of investing in the coins, all this coin are from Nigeria and we all know our Nigeria coin will never be good, nothing like a good investment when it comes to Nigeria coin that is why I don't think of investing in any of the coins because all they have Nigeria names and it was from the celebrities.

Although it will be good for seeing Nigeria progress not scam people by bringing out some coin that will not help anyone, people who trust the coin and invest the money they earn from dogs to invest in coin I pray should be able to get the amount they invest in the coin in the future but presently I don't think they can get the exactly amount they use to invest back, we should always make a good research about a coin before we invest because it is very dangerous to invest in coin that you don't know much about it.

[Kelward]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

I de reason di same thing with you because as we de see say dis celebrities don scam dem fans with the shitcoins wey dem launch, e fit be say dem no really know about scams for cryptocurrency. Dem aids or friends fit to de responsible for di project, dem go just leverage on the popularity of di celebrities, take dem name to launch di shitcoins with di aim of scamming people. I believe say most of these celebrities get people wey de sale business ideas to them and most times dem fit no know di disadvantages of di businesses wey dem de enter.

I hope say dis celebrities failed projects and scam airdrops wey full ground go make people to understand say scams de for cryptocurrency. If e no be Bitcoin e no fit be like Bitcoin so e de important for newbies inside di crypto space to understand say di whole cryptocurrency no de reputable like Bitcoin. Lack of proper knowledge na im de make many newbies to fall for memecoins scams, dem no go know say dem de gamble dem funds by investing in dem.

[Nheer]

It doesn't cost much to laugh at a shitcoin on a DEX exchange; all you have to do is hire a developer. Davido launched his scam coin with less than $2k, gave a few liquidity, and advertised the entire shit on his social media accounts, attracting others and duping them. All of the coins on the DEX are pump and dump crap. No legitimate project launches on Dex exchanges, only projects with dubious backgrounds.

It’s true that launching a shitcoin on DEX doesn’t cost much and a lot of projects on the DEXs lacks transparency which is making DEX space a risky space for investors. As you said all you have to do is to hire a developer and with the minimal financial requirement almost anyone can create and launch a token and e don lead to many scam and manipulative investment schemes (pump and dump)

Investors need de very careful and always carryout research before dem invest for any project especially for DEX platforms and no fall for projects wey dem advertise for social media no matter the celebrity wey de promote am na hype full their body.

[AYOBA]

A lot of people invested the money they made from $Dogs airdrop to invest in Jotta coin but lost everything.

No law guides meme coins and as such, when you lose your money in the investment, it's your responsibility but this is what many people don't know and this is what most of these celebrities do to make extra money from their ignorant fans.

Word of advice, meme coins are not investment instruments, stay away if you can.

The problem of some people is that they don’t want to make their own research on such coins once they see that they’ve have lunch new coins, some will begin rushing much of the money and invest into the coins where they never know either the coins legit or not; that’s why a lot of people’s lose much of their money when ever they invested in new coins: like this jotta now this the first time I’m even heard about the, the coins sound like some one name from here the name it’s show that is not a legit coin.

Furthermore, to honest it’s good ideas for us to wise and know the kind of the coins we wanted to invest into, to avoid lose our money in such kind of coins, even thought the $Dogs airdrop is a free project that came without did any tasks and a lot of people make enough money; it will really painful by lost the all $Dogs after investing in wrong coins.

[I_Anime]

I just want to believe that these celebrities launched those coins for the sake of popularity and probably making some money via advertising and publicity, else, what it takes to launch a big project like launch of a coin is way beyond just making announcements without the necessary arrangements and preparations. The same or let's say similar unpreparedness was faced by the Hamster Kombat project which end up accumulating large community with little performance.

It doesn't cost much to laugh at a shitcoin on a DEX exchange; all you have to do is hire a developer. Davido launched his scam coin with less than $2k, gave a few liquidity, and advertised the entire shit on his social media accounts, attracting others and duping them. All of the coins on the DEX are pump and dump crap. No legitimate project launches on Dex exchanges, only projects with dubious backgrounds.

One thing have learnt in this space is that most coin that's being brought up or back by a celebrity especially musician are usually shitty coins and it usually gets folks burnt or reckt . There's this project that was being backed or owned by upset ( a rapper) the name was clout . The project didn't spend up to a months , we farmed it for  weeks and some folks brought the presale at the end, they didn't care to distribute, and alot of folks embark on it due to the hype and the influence of the rapper but still , endup disappointing the community without distributing at all . And those that brought the presale endup losing big time because it was a bump and dump project.

That's why is always good to deep research before going into any investment, especially when comes to investing in shitcoins in this space so all I will say is that be careful at there.

[SatoPrincess]

I don't think most of these coins were even launched by the said celebrities because of the way of their performance, i believe that a successful coin shouldn't have struggles with financial back up to help it sustainability, some may be aware of the coins but not being the direct owners or developers behind it, all i can say is that in each of our investment decision, we should look out for what is more than the celebrity coins and focus more on the other requirements in which we must look in for before investing on any coin.

I no know about the others but $Davido coin was launched by Davido. How do I know? He promoted the coin aggressively on all his social media accounts. He was posting about it nonstop, Davido even tweeted about the launch on Solana. The other celebrities can claim to not know about these shitcoins but Davido cannot. He’s lucky his reputation wasn’t ruined by this rug pull scam.

[Dr.Bitcoin_Strange]

Well, to and extent, I feel happy because some other famous Nigerian skits makers and social media influencers have criticized the actions of those celebrities for developing cryptocurrency despite not having a proper knowledge about blockchain technology and does not even have a career in blockchain and cryptography.  Why I felt happy is because there are still some Nigerians that understands that those three cryptocurrency that you have mentioned can not be able to guarantee a good profit for any investor because the developers of those tokens only did it for their own self interest to make profit at of it.

[Felicity_Tide]

~snip

A lot of people invested the money they made from $Dogs airdrop to invest in Jotta coin but lost everything.

No law guides meme coins and as such, when you lose your money in the investment, it's your responsibility but this is what many people don't know and this is what most of these celebrities do to make extra money from their ignorant fans.

Word of advice, meme coins are not investment instruments, stay away if you can.

It's so disappointing to see that those who have more than enough are the ones stealing from those that are struggling to eat 3 square meal a day. Unfortunately for the average citizens, these celebrities can't be brought to book just because they have backings somewhere or because they are very wealthy. I think this is another area where the united state are still better than us, because if such thing was to happen, there will definitely be lots of questioning and heat coming from both the senates and SEC. But unfortunately, our own senators don't even have a clue of what's going on in the country, while the SEC only appear on the news when they are after things that will benefit an average man.

And the disgusting part of the whole situation is that majority of the fans who supported the project just by making some purchase, are still very much loyal to their celebrity and can't even condemn the intentional act that was done. And it's not as if these celebrities are even feeding them. I don't really know when some of these youths will wake up from their slumbers and start taking things seriously.