$JAILSTOOL Quick Recap: One Celebrity Tweet, Market Cap Soars to $150 Million in 3 Hours
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$JAILSTOOL Quick Recap: One Celebrity Tweet, Market Cap Soars to $150 Million in 3 Hours
How much room for growth does this token have? It all depends on Dave's decision.
Navigating Web3 tides with focused insightsAuthor: Deebs DeFi
Translation: TechFlow
This is Dave Portnoy.
The millionaire entrepreneur once propelled a Meme coin to a $150 million market cap within just three hours.
But who exactly is @stoolpresidente? A hero, or a scammer?
Here is his full story.
Dave Portnoy, nicknamed "El Presidente," is an American entrepreneur best known for founding Barstool Sports.
Barstool Sports started as a small sports newspaper he handed out in the subway, but later grew into a multi-million dollar business empire.
However, Barstool isn't the only reason Dave became famous.
Dave is also a well-known internet personality.
In the U.S., he gained attention for his sharp pizza reviews and wild sports betting.
So it's no surprise that Dave ventured into another thrilling domain—the cryptocurrency space, often called the "world's most exciting casino."
Dave began his crypto journey by hinting he might launch a token.
Yet, he said he needed to learn more first.
He wanted to ensure any token he launched would be safe and fair.
But what happened next surprised everyone...
Dave started randomly buying tokens on Solana and sharing these moves on Twitter.
He quickly discovered crypto's profit potential—turning $10,000 into $75,000 in just minutes.
He openly told people he'd sell those tokens.
But this behavior upset the crypto community.
Many directly called Dave a scammer, including @coffeebreak_YT.
It seemed the entire crypto community was attacking Dave.
But Dave decided to surprise everyone again.
On February 8 at 20:41 UTC, Dave bought $200 worth of a new token called #JAILSTOOL.
Like previous tokens, this wasn't one he created himself.
So initially, no one paid much attention.
Then Dave started tweeting again.
He found the token interesting and told investors he wouldn't sell anytime soon.
As a result, the price skyrocketed.
But not everyone believed Dave. The creator and largest holder of #JAILSTOOL remained skeptical.
Hours after Dave's tweet, the #JAILSTOOL creator sold 20 million tokens, cashing out $50,000.
(This cost him over $2 million in potential gains.)
Yet, instead of selling his holdings, Dave doubled down—buying $200,000 more.
What happened next was inevitable.
#JAILSTOOL's price went on a wild rally.
Within just three hours, JAILSTOOL's market cap surged to $150 million.
Today, it has surpassed $200 million, with no signs of slowing down.
But the question remains: What happens next? Is this token safe? Does it have more upside?
Regarding safety: Current supply distribution looks relatively healthy.
There are many holders, and no clear signs of insider trading.
However, I must note one holder controls nearly 8% of the total supply.
This wallet—and Dave himself—could sell at any time.
But do I think Dave will sell immediately?
Unlikely in the short term. (Not financial advice)
Why? Because Dave has now tied his crypto reputation to this token. He surely wants to see how high it can go.
Just look at his tweets.
If you know Dave's pizza reviews, you know he's extremely proud.
To me, the pride and satisfaction of controlling a top-tier Meme coin mean far more to him than a few million dollars.
So, how much upside does this token have?
I'll be clear: It entirely depends on Dave's decision.
Although he never intended this token to become his "official coin," several reasons may push him to change his mind:
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Minimal legal risk. (After all, he didn't create the token)
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He has some control over supply.
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His fans have already made significant profits.
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Selling now would damage his growing reputation in the crypto community.
If Dave ultimately embraces this token as his "official coin," reaching a $1 billion market cap isn't impossible.
We've seen similar success stories with celebrity Meme coins before. (Not financial advice)
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@Deebs_DeFi
