UK Rapper Russ Tens of millions’ Meme Coin $MILLION Tanks 99% in ‘Social Experiment’ Gone Incorrect 

Millionaire ($MILLION), Backed by the UK’s largest drill rapper Russ Tens of millions, appears the most recent superstar meme coin wrapped in controversy after tanking 99%.

Russ described the brand new meme coin as a “social experiment” throughout an Instagram story asserting its launch on January 1, claiming its buyers will “all change into millionaires.”

The mission made rounds on social media platform X by means of endorsements from the likes of widespread merchants Crypto Rover and Mister Crypto, amongst others.

To calm rampant rug-pull fears, Russ burned his whole holding of 153 million tokens, however this didn’t cease the pump and dump that ensued.

“I burned all my tokens Let’s see how massive we are able to go. I reach music, I’ll do it with $MILLION as nicely,” stated Russ.

Whereas the coin initially confirmed promise, peaking at simply over a $1 million market cap, it rapidly turned for the worst with its worth plunging 99% inside simply 12 hours.

Now, $MILLION mulls at simply $31,000, a far cry from its formidable $100 million goal.

Submit-crash, the X account related to the mission maintains optimism, claiming the brand new low to be a backside relatively than the dying of the mission.

How $Million Tanked 99%: A Social Experiment Gone Incorrect

The newest posts by the account are actually flooded with feedback labelling the mission a “rip-off.” One late investor took to X to precise their frustrations, rappelling with unrealized losses of 95%.

In the meantime, those that promoted the mission are dealing with criticism for deceptive their followers, with claims that it could possibly be the following “subsequent $DADDY or $MOTHER” falling flat.

Thankfully, most had been sensible to this all-so-common theme amongst superstar meme cash.

Because the first day, the mission acquired criticism as “simply one other rug pull,” with feedback pointing to the label of a “social experiment” as a comedic however damning signal.

2024 noticed a number of influencer-launched meme coin controversies. Most not too long ago, Haliey Welch, the “Hawk Tuah Woman,” confronted a lawsuit after her meme coin $Hawk grew to become wrapped in an insider buying and selling controversy.

Within the high-risk high-reward meme coin house, it is important that buyers do their due diligence to forestall potential scams and rug pulls.

Russ Nonetheless Has ‘HUGE’ Plans – Did $Million Holders Promote Too Early?

Regardless of this, Russ distances $MILLION from previous superstar meme cash, stating he has “HUGE plans, not like different folks on this trade, that’s why I burned all my tokens.”

One such plan is a 1,000 SOL airdrop, valued at $1 million, set for January 3 to reward token holders. Nonetheless, no updates have surfaced relating to its execution.

Russ has additionally tied the token to his music profession, promising to launch a monitor titled “Million” as soon as the mission reaches a $3 million market cap.

Whereas the milestone wasn’t achieved, he confirmed the music will go forward and be launched on January 4.

Russ boldly proclaimed the monitor as his subsequent massive hit, predicting it will change into the “first mainstream & #1 meme coin music on Spotify” and a defining anthem for 2025.

Extra so, Russ teased a merchandise line for the token, signaling plans to construct a broader ecosystem round $MILLION.

Regardless of these ambitions, the token’s decline and public sentiment could undermine these efforts.

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