The Mark Longo-created token has plunged more than 99 percent since its Nov. 26 launch, with on-chain data showing heavy selling pressure amid mounting controversy over the project's launch.
Launched by Solana-based meme coin platform Pump.fun, the JUSTICE token is now trading at $0.0003834, a significant drop from its initial trading level.
The project's market capitalization has dropped to $375,960, though it remains above 31,000 holders. Data From GeckoTerminal.
Longo did not immediately respond. Decrypt's Ask for feedback on the simulation's performance.
The launch came after Longo. Criticized crypto traders Allegedly monetizing his personal tragedy with the popular Meme Coin Peanut (PNUT).
“It's not a big deal that people want to make money off of it,” Longo said. he said. Twitter video before booting to launch the token.
At the time, PNUT community members suggested nearly $50,000 in donations to Longo, which he immediately rejected.
By Friday, December 6, a tag associated with Longo Posted About a new contract address on X, indicating that the first $JUSTICE token is being transferred to a new one. Seven minutes after the post, the account posted the new contract address with a new ticker: -$JFP.
When tested, Decrypt JUSTICE FOR PEANUT (JFP) Token It suffered the same fate as its predecessor. The new JFP token is down 67% since its creation on December 6th.
For context, the “JusticePnutFred” account has been verified as an official organization on the X forum. Decrypt Reached X for confirmation.
The same account continued Thank you “4 news publications” to cover the Mark Longo story and the launch of JFP. It is not clear which publications the label is referring to. That same day, he said he submitted requests to be listed on CoinMarketCap and CoinGecko.
What is the sign of justice and where did it start?
A case involving Longo and his pets Peanut and Fred Vice President JD Vance gained political traction when he said Trump was “angry” about euthanasia at a rally in North Carolina. After Elon Musk's comments boosted business activity on various associated meme coins, the story's mythic nature has intensified.
The incident stems from New York state environmental officers raiding Longo's Pine City Animal Shelter on October 30, citing violations of wildlife protection laws. P'Nut, who has amassed more than 500,000 social media followers, was sidelined by Fred after someone allegedly bit him during a raid.
Longo's latest moves add to the trend of launching a controversial meme coin on Pump.fun, along with the Justice for Peanuts and Fred meme coins.
The Platform Access Token Innovation System has revolutionized how meme coins enter the crypto market, allowing projects like JUSTICE and JFP to launch with minimal financial and technical hurdles.
For 0.02 SOL (around $4.8), users can create tokens without technical knowledge. The platform's correlation curve mechanism automatically adjusts prices based on market activity, although this feature can accentuate volatility in trending tokens.
As of January 2024, the Solana-based platform has facilitated more than 3.85 million token launches.
On November 25, Decrypt Self-harm and how other types of harm are covered Attacks and attacks abound on Pump.fun.. platform The live streaming feature has been discontinued After the reports, it sparked a public outcry.
Saturday, Pump.fun Banned UK users After receiving a warning from the country's financial regulator.
Edited by Sebastian Sinclair
Daily Debrief Newspaper
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