Is Andrew Tate Using This R-Rated Meme Coin to Profit Off Fans?
Hours after the release of the $SLUTS meme coin, former professional kickboxer Andrew Tate took to Twitter to claim he is not the brain behind it. However, there are reasons to believe he might not be entirely unassociated with the project.
The controversial media personality tweeted about the viral token before it went live. Is he trying to cash in on the dirty token?
Andrew Tate Joke Leads to Sluts Token Rise
Sluts Token went live during the morning hours of May 16. According to Etherscan, it has a maximum supply of 10 million coins, 1,577 holders, and has logged around 10,000 transactions.
Notably, the asset is missing crucial project information and looks like a meme launch for viral profit.
Meanwhile, Tate, who has been accused of misogyny, racism, and violence, took to Twitter about the launch. Tate expressed amazement that he had not anticipated that a bunch of people would swiftly establish a cryptocurrency called $sluts based on a joke he made in a tweet. Tate questioned the identities and activities of these individuals, referring to the crypto community as “degen autists” and “gambling addict virgins.”
In reaction, several follower accounts began equating Tate’s tweet with a strategy for building “generational wealth,” while others advised against it by branding him a “known serial scammer.” On the surface, $sluts appear to be developing into a pump-and-dump cash grab with airdrop, giveaways, buy calls, and tweets about wealth creation making the rounds.
Meanwhile, crypto trader Gainzy suggested that while Tate may not have personally launched the coin, he is aware of the viral impact his tweets can have. The influencer pointed out that Tate even included the ticker symbol in his tweet, indicating an understanding of the potential financial implications.
This has sparked speculation if Tate is knowingly capitalizing on the current trend of meme coin fever.
No Reliability Rating
According to dextools.io data, SLUTS is currently trading at $0.055 but has a reliability score of 1/99. The total liquidity of the token on Uniswap V2 Pool is estimated to be around $142,710.
Pepe (PEPE), which led the meme coin frenzy in recent weeks, has started losing steam. Another meme crypto, Homer Coin, experienced a meteoric rise to fame over the weekend.
It is worth noting that Andrew Tate promotes a ‘no BS’ crypto investing course on his online Hustler’s University platform as part of what he calls ‘modern wealth creation.’ Although, this also goes against his recent statements that cryptocurrencies have no value.
The digital university website claims that it instructs students on how to mimic successful cryptocurrency traders and investors. It’s unclear whether it teaches the technology involved in making these cryptocurrencies. The course has a 3/10 rating from a student who claims to have taken it. The student dismissed the course as lengthy and basic with little added professional value.
Meanwhile, the speed with which the meme coins may be created and deployed is causing concerns. A recent Twitter video has sparked worries about the increasing number of rug pulls. It shows a meme coin being created and deployed in just 27 seconds.
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