Gucci

Solana

Tate

Daddy Tate

American rapper Gazzy Garcia, more commonly known as Lil Pump, shared an Instagram post highlighting what seems to be a tattoo of the blockchain platform Solana.&nbsp;
In the post, Garcia claims that he has already sold his Solana (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) tokens and <a href="https://www.instagram.com/p/C8KqMAquRyK/?igsh=cXBjaGVqbHQyOGQz" target="_blank" rel="noopener nofollow">asked</a> his over 14 million followers on Instagram if they like his new tattoos. “Like my new tats? I sold my SOL,” Garcia wrote. 
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 Lil Pump sharing a new tattoo with his followers. Source: Lil Pump
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Garcia is known for his 2017 single Gucci Gang, which peaked at number three on Billboard’s Hot 100 list. 
<h2 data-ct-non-breakable="true" id="community-responds-to-lil-pump-s-tattoo">Community responds to Lil Pump’s tattoo</h2>
On Instagram, fans weren’t very happy with the tattoo. One user said that they needed the “old pump,” while another said that they couldn’t imagine getting tattoos removed from their forehead just to put “some dumber ones.” 
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 Comments on Lil Pump’s Instagram account. Source: Instagram
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Meanwhile, other commenters questioned whether the tattoo was real or not, while others rejoiced at its potential to increase SOL’s price. One community member wrote, “To the moon! Gucci gain, Gucci gain, Gucci gain!” 
On X, community member Trader Mayne <a href="https://twitter.com/Tradermayne/status/1801351094922318210" target="_blank" rel="noopener nofollow">criticized</a> Garcia and his crypto endeavors. “Your crypto grifts are as shitty as the music you make. The good news is you are so bad at both you can’t make money doing either,” Mayne wrote.
Related: <a href="https://cointelegraph.com/news/sahil-arora-banned-celebrity-memecoin-scams">Celebrity memecoin promoter Sahil Arora banned by X</a>
<h2 data-ct-non-breakable="true" id="the-downfall-of-celebrity-tokens">The downfall of celebrity tokens</h2>
Garcia’s new tattoo comes as most celebrity-backed crypto projects experienced a downturn. On June 6, many tokens released by celebrities <a href="https://cointelegraph.com/news/celebrity-tokens-dip-one-week-after-caitlyn-jenner-crypto-debut">were down by at least 66%</a>. Crypto tokens backed by Caitlyn Jenner, American Rapper Rich the Kid and Nigerian singer David Adedeji Adeleke Oon all went down after their initial gains. 
Furthermore, crypto coins associated with boxing legend Floyd Mayweather and American rappers Moneybagg Yo (SPEAK) and Trippie Red (BANDO) are among several celebrity-linked coins that have dropped by about 90%.
Despite this, celebrities continued to release more tokens. On June 11, controversial social media figure Andrew Tate <a href="https://cointelegraph.com/news/andrew-tate-daddy-memecoin-allegations-insider-activity">promoted a Solana-based memecoin</a> called Daddy Tate (DADDY). The token surpassed Iggy Azalea’s project despite accusations of insider trading. 
Meanwhile, Ethereum co-founder Vitalik Buterin <a href="https://cointelegraph.com/news/vitalik-buterin-slams-celebrity-memecoins">expressed dissatisfaction</a> toward the celebrity memecoin frenzy. Buterin believes that financialization may only be justified if it brings value to society. This means improving healthcare or promoting art and creativity. 
Magazine: <a href="https://cointelegraph.com/magazine/cailtlyn-jenner-token-scammer-sahil-arora-celebrity-network-leaked-price-list/">Caitlyn Jenner meme coin ‘mastermind’s’ celebrity price list leaked</a>

Lil Pump and dump: Rapper tattoos ‘Solana’ on forehead after selling SOL tokens

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Cointelegraph

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