TechFlow News, July 25 — Slorg, Jupiter's Business Expansion Manager, posted on X stating that last month, 30 meme tokens launched by celebrities emerged on the Solana network, involving well-known figures ranging from Andrew Tate to Soulja Boy, which once gained significant popularity. However, each of these celebrity tokens has since declined from their all-time highs, with an average drop of 94%. Even the best-performing tokens have fallen by over 70%, and half of them have dropped more than 99%—all within approximately one month of their lifecycle.
Ethereum co-founder Vitalik Buterin responded last month to discussions around "celebrities launching meme coins," saying: "So far, I am very unimpressed by this round of celebrity experiments. Financialization is a means to achieve goals; if the goals are worthwhile (such as healthcare, open-source software, art, etc.), I can respect that. But if it's merely for products, then it’s distasteful."
