Jason Derulo’s Memecoin Dropped 72% Shortly After Its Announcement
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jun 25 2024- Jason Derulo's Memecoin: American singer Jason Derulo launched a token named JASON on the Solana blockchain.
- Price Drop: The token experienced a 72% price drop within 24 hours of its launch after Derulo's announcement.
- Accusations: Derulo accused Sahil Arora of causing the crash and claimed to have bought $20,000 worth of JASON to stabilize it.
- Market Performance: Despite the drop, JASON surged to a market cap of $6.9 million with a trading volume of $25 million.
- Controversy: SlumDOGE Millionaire accused Derulo of misleading followers by pretending ignorance about the situation.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
