Blur

Donald Trump

The Kanpai Pandas non-fungible token (NFT) collection suffered a floor price drop following the team’s alleged involvement in promoting a Donald Trump-themed token called Restore the Republic (RTR).
On Aug. 9, data from the NFT marketplace Blur <a href="https://blur.io/collection/kanpai-pandas" target="_blank" rel="noopener nofollow">showed</a> that the floor price of the Kanpai Pandas collection dropped by 37.44% in 24 hours and 40.13% in the last seven days. The floor price went down from 0.775 Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) on Aug. 8 to a low of 0.42 ETH on Aug. 9, representing a 45% decrease. 
The floor price currently sits at 0.46 ETH, worth $1,220. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/9698fcca-3988-40cf-9cf8-af177706bb8b.jpg" alt="Kanpai pandas NFTs plunge 45% amid Trump token controversy" title="">
 <figcaption style="text-align: center;">
 Kanpai Pandas weekly price chart. Source: Blur
 </figcaption>
</figure>
The collection’s floor price drop has been widely attributed to its founder, “Ice Bagz,” and its team members allegedly promoting the RTR token, which purported to be an “official” Trump token. However, Donald Trump’s son Eric Trump firmly denied the token’s connection with the family. 
Cointelegraph reached out to Kanpai Labs for comments but did not get an immediate response. 
<h2 id="kanpai-pandas-team-face-community-backlash">Kanpai Pandas team face community backlash</h2>
After the Trump family denied involvement with the RTR token, the <a href="https://cointelegraph.com/news/donald-trump-themed-crypto-memecoin-rtr-plummets-eric-trump">price crashed 95%</a>. Because of this, the community went after members of the Kanpai Pandas team who had been seen promoting the token on X before there were any official statements from Trump. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/905ba8be-2293-401f-aef9-10ee312ce9b1.jpg" alt="Kanpai pandas NFTs plunge 45% amid Trump token controversy" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/LegacyApe/status/1821561886116139210" target="_blank" rel="noopener nofollow">Legacy Ape</a>
 </figcaption>
</figure>
An X user called Legacy Ape shared screenshots of the Kanpai Pandas team members promoting the token on X. Meanwhile, another community member <a href="https://x.com/0xArch/status/1821547029933265006" target="_blank" rel="noopener nofollow">shared</a> a screenshot alleging that Kanpai Labs was behind the token’s Google advertisements. 
Related: <a href="https://cointelegraph.com/news/solana-trumpcoin-crashes-95-crypto-market-downturn">Martin Shkreli-led Trump memecoin DJT plummets 95%</a>
<h2 id="kanpai-pandas-founder-s-response">Kanpai Pandas founder’s response</h2>
Following the Trump family’s denial of their involvement with RTR, Ice Bagz posted a vague response to Donald Trump Jr.’s X post and thanked people who “sent love” amid the controversy. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/4df80aae-24aa-4f97-b671-706142710b15.jpg" alt="Kanpai pandas NFTs plunge 45% amid Trump token controversy" title="">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/yogurt_eth/status/1821717965202718735" target="_blank" rel="noopener nofollow">Ice Bagz</a>
 </figcaption>
</figure>
A community member responded to Bagz, saying he had told his followers to buy before the X post and had <a href="https://x.com/yogurt_eth/status/1821717965202718735" target="_blank" rel="noopener nofollow">hurled</a> insults toward the Kanpai Pandas founder. Another X user said that Bagz and his team are now <a href="https://x.com/ctjwa/status/1821724025430679605" target="_blank" rel="noopener nofollow">playing</a> the “confused victim card” after allegedly making millions. 
Meanwhile, an X user reacted by <a href="https://x.com/fluffyonEth/status/1821618580875522358" target="_blank" rel="noopener nofollow">sharing</a> a note: “Don’t be a scammer if you’re already building a successful project.”
Magazine: <a href="https://cointelegraph.com/magazine/6-questions-goggles-guy-who-saved-crypto/">6 questions for Goggles Guy who ‘saved’ crypto with question to Trump</a>

Kanpai pandas NFTs plunge 45% amid Trump token controversy

Table of Contents

Cointelegraph

Other articles published on Aug 9, 2024

Ripple’s Partial SEC Win: ODL’s Future in Spotlight

Cathie Wood's Ark Invest Continues Loads Up On $6.05M Worth Of Robinhood Shares Amid Bitcoin Rebo...

Vitalik Buterin Backs ERC-7683 Proposal for Cross-Chain Trade Execution

Shiba Inu Sees a Potential 354% Surge, Targets $0.000081

Crypto Price Analysis August-09: ETH, XRP, ADA, BNB, and SOL

Binance Labs' New Investment: What is Particle Network?

Join our free newsletter for daily crypto updates!