Today, the meme community once again witnessed a frenzy of attention.
The true and false Jenner, a twist and turns
In the early morning at 4 o’clock Beijing time, an attractive token called “jenner” appeared on Pump.fun, a meme token generation platform on Solana. The development team behind this token comes from Caitlyn Jenner, a member of the American Internet celebrity family with 33 million Twitter followers, and the father of the Kardashian family. Caitlyn Jenner, a transgender woman, also posted a photo on Twitter of her shaking hands with former US President Trump with the caption “make america great again!!! and we love crypto!” and attached a link to purchase the jenner token on pump.fun.
To the surprise of the community, Caitlyn Jenner not only used Pump.fun, but also mentioned Ansem, Paul, and other meme OGs in the comments section to hype up the token.
The tweet quickly gained great attention. However, just a few hours ago, the well-known trader GCR X’s account @GCRClassic was hacked, and the hacker used his account to publish news saying “bullish and heavily invested in ORDI”. Faced with this meme named after Caitlyn Jenner, the community had some doubts amidst the excitement.
Within less than an hour of Jenner’s launch, the token’s price increased nearly 70 times. Just as the community was speculating on when the main character would release a statement denying the rumors, the token developers sold tokens worth 160 SOL from the liquidity pool, causing jenner to drop more than 60% in ten minutes. The comment section on Pump.fun was immediately filled with angry insults, and the community began to believe that Caitlyn Jenner’s tweet was only sent after her account was hacked.
But just as the community thought that jenner was heading towards zero, a reversal occurred. Caitlyn Jenner’s Instagram account posted a dynamic update, which was a screenshot of the original tweet, with the caption “7 million dollars in one hour, for Caitlyn Jenner and Sophia Hutchins (Jenner’s manager)”. Caitlyn Jenner’s Twitter account also added this update to the comments section of the original tweet.
With the verification of the Instagram account, community members started buying jenner tokens in large quantities. From the candlestick chart, it can be seen that jenner stopped its decline at 5 o’clock and rose by 610% in the next 30 minutes.
During this 30 minutes, Caitlyn Jenner released more “evidence” on her Twitter account. She posted a video saying, “This is my manager Sophia Hutchins, rest assured. I have not been hacked and the tokens are still being sent to the moon. I am enjoying my Sunday on the golf course. My team is managing this token release. The tokens are real, keep going.”
With the support of the video, the jenner token quickly surged, rising 70% in 5 minutes. But soon, it raised new doubts in the community. Some people claimed that this video was created using AI deepfake technology, and there were also accusations of fraud against the developers. Jenner then dropped more than 60% in the next 10 minutes.
Immediately after that, Sophia, the manager, held a Space session through Caitlyn’s account. KOL 0xSun recalled in the replay of the tweet that before the Space session, many negative comments about the token were deleted, which pushed the token’s market cap from 4 million to over 20 million. So far, less than 2 hours after the token was launched, Jenner has achieved a 35-fold increase.
Unexpectedly, because Sophia mentioned the possibility of launching a new token during the Space session and did not provide strong evidence of the video’s authenticity, the community started selling the token. Jenner dropped nearly 70% in half an hour, and it seemed like it was really going to “zero” this time.
During Jenner’s decline, Caitlyn Jenner’s Twitter account became unusually active. She denied being hacked, congratulated the token’s market cap reaching 28.3 million dollars in an hour and a half, and stated that there would be no other tokens released, focusing on driving Jenner’s market cap to 50 million dollars.
By this time, Jenner had already sparked heated discussions in the community, and some lucky traders were discovered. One trader earned over 100,000 dollars in profit from a 3 SOL investment in Jenner. Caitlyn Jenner’s Twitter account also began to retweet these discussions intensively.
At 8:20 in the morning, Caitlyn Jenner’s Twitter account posted a live-action video. In the video, Caitlyn Jenner, wearing a bathrobe, confirmed that Jenner was indeed a token released by her own team and denied the deepfake allegations. This video was very convincing, allowing Jenner to soar amidst its low-level fluctuation.
Although the community questioned the actions of the token developers who sold all their chips early on, meaning they voluntarily gave up the high multiple increase brought by Caitlyn Jenner’s team’s promotion. Since the token was launched, Jenner has reached a peak increase of more than 160 times.
Throughout the night, Jenner holders experienced several roller-coaster moments. Community KOL 0xSun stated in the replay, “Although I eventually made a profit of 80 SOL on this coin, I still feel a bit regretful because even my first entry of 2 SOL could have been sold for over 1,000 SOL at the peak. Just watching this night’s show has consumed a lot of brain cells.”
At the time of writing, Jenner has fallen from its high point but still maintains a relatively high position, with a current price of $0.024.
Is going viral a blessing for crypto?
Currently, it is still uncertain whether Caitlyn Jenner’s coin issuance is real. After all, as an American Internet celebrity who has rarely been involved in the crypto field in the past, Caitlyn Jenner’s Twitter account seems too familiar with meme operations.
Regarding this sudden meme drama, besides watching the show, there are different opinions in the community. Some people believe that the entry of a top American Internet celebrity into the crypto world and the release of tokens is a great advantage for the crypto community. Considering the recent Ethereum ETF approval, Trump’s repeated high-profile support for crypto, and several memes going viral, this incident is another “good news” that promotes the expansion of the crypto community’s influence.
On the day before the token launch, Caitlyn Jenner retweeted several tweets related to Trump and cryptocurrency. During the election period in recent weeks, the tags of Trump and cryptocurrencies have been highly publicized and deeply intertwined. It can be expected that more American celebrities will “enter the crypto circle” in the future. Some people in the community are already imagining, “What if the Kardashian herself releases a meme coin?”
But it must be mentioned that in these news, another event cannot be overlooked. A few days ago, a pump.fun developer burned himself to attract attention. Community member Wazz said, “Only brainless people would think that Caitlyn Jenner, with 16 million followers, would use Twitter to promote the Pumpfun scam, and this would be beneficial to the adoption of cryptocurrencies.” Some people also sarcastically referred to the previous ETF hype, saying, “Just want to see Caitlyn Jenner openly violate securities laws on Twitter.”
The community’s concern is that if meme coins become the only label of the crypto community, the original “freedom, decentralization, geek spirit,” and other crypto cultures will be at risk of being dissolved. Of course, the debate over the influence of meme coins has been a long-standing topic. For the majority of crypto traders, the most important thing is to distinguish information clearly between buy and sell. As advised by community members, “GCR has already told us today that hacking actions against well-known Twitter accounts are happening, and as more and more celebrities continue to launch meme coins—especially when platform engineers are not working on weekends—I suggest you be very careful.”
