The post Jason Derulo’s Memecoin Dropped 72% Shortly After Its Announcement appeared first on Coinpedia Fintech News
The American singer Jason Derulo recently entered the crypto space with his token JASON on the Solana blockchain. However, within less than 24 hours of its launch, the token saw a price drop of 72% shortly after Derulo’s announcement on X. Derulo accused Sahil Arora of causing the crash. Derulo claimed to have bought $20,000 worth of JASON to stabilize the token. Despite the turmoil, JASON surged and reached a market cap of $6.9 million with a trading volume of $25 million. SlumDOGE Millionaire has accused Derulo of misleading his followers by pretending ignorance about the situation.