Today, the meme community is experiencing another attention carnival.

Real and fake Jenner, twists and turns

At 4:00 am Beijing time today, an extremely attractive token jenner appeared on the meme token generation platform Pump.fun on Solana. Its development team came from Caitlyn Jenner, a transgender woman with 33 million Twitter followers, a member of the American Internet celebrity family, Kardashian's father. Caitlyn Jenner also posted a photo of shaking hands with former US President Trump on Twitter with the caption "make America great again!!! and we love crypto!", and then attached a link to purchase the jenner token on pump.fun.

To the community’s surprise, Caitlyn Jenner not only used Pump.fun, but also tagged a series of crypto community meme OGs such as Ansem and Paul in the comment section to warm up the token.

The tweet quickly attracted great attention, but just a few hours ago, the account of well-known trader GCR X @GCRClassic was stolen, and the hacker posted the news of "bullish and heavy holdings in ORDI" through his account. Facing this meme named by Caitlyn Jenner, the community was excited but also had some doubts.

Jenner's price increased nearly 70 times in less than an hour after it went online. Just as the community was nervously speculating when the owner would release a statement to refute the rumor, the token developer sold 160 SOL tokens in the liquidity pool. This action caused Jenner's price to drop by more than 60% in ten minutes. Pump.fun's comment area was immediately filled with curses, and the community also turned to believe that Caitlyn Jenner's tweet was stolen.

But when the community thought Jenner was going to go back to zero, things took a turn. Caitlyn Jenner's Instagram account updated a post with a screenshot of the original tweet and the text "$7 million an hour, the team is Caitlyn Jenner and Sophia Hutchins (Jenner's agent)". Caitlyn Jenner's Twitter account also added this update in the comment section of the original tweet.

With the authentication of Instagram account, community members bought a large amount of Jenner. From the candlestick chart, we can see that Jenner stopped falling at 5:00 and rose by 610% in the next 30 minutes.

During these 30 minutes, Caitlyn Jenner released "evidence" on her Twitter account again. She sent out a message with a video, "This is my agent Sophia Hutchins, please rest assured. I have not been hacked and continue to send tokens to the moon. I am enjoying my Sunday on the golf course. My team is managing this token release. The token is real, stick with it."

After the video was added, the token jenner rose rapidly, up 70% in 5 minutes. But it soon aroused new doubts from the community. Some people said that the video was made with AI deep fake technology, and there were some fraud accusations against the developer. jenner fell more than 60% in the next 10 minutes.

Then, agent Sophia held a Space directly through Caitlyn's account. KOL 0xSun recalled in a recap tweet that before the Spcace, many negative comments about the token were deleted, pushing the token market value from 4M to 20M. So far, less than 2 hours after the token was launched, Jenner has gained 35 times.

But surprisingly, because Sophia said in Space that she might launch a new token and did not provide strong evidence of the authenticity of the video, the community began to sell tokens. Jenner fell nearly 70% in half an hour, and it seemed that it was really going to "return to zero" this time.

During the decline of Jenner, Caitlyn Jenner's Twitter account was unusually active. She first refuted the rumor of "being stolen", congratulated the token market value for reaching 28.3 million US dollars in an hour and a half, and stated that no other tokens would be released, focusing on pushing Jenner to a market value of 50 million US dollars.

At this time, Jenner had already caused heated discussions in the community, and some lucky traders were discovered. One trader used 3 SOLs as a principal to earn more than $100,000 on Jenner. Caitlyn Jenner's Twitter account also began to intensively forward these discussions.

At 8:20 in the morning, Caitlyn Jenner’s Twitter account released a real-life video in which Caitlyn Jenner was wearing a bathrobe, indicating that Jenner was indeed a token issued by her own team, denying the suspicion of deep fakes. As a result, Jenner, which had been fluctuating at a low level, was able to soar again.

Although the community still questioned the token developers’ action of selling all their chips in the early stage, that is to say, the developers of Jenner tokens voluntarily gave up the high increase brought by Caitlyn Jenner’s team’s hard promotion. Since the launch of the token, Jenner’s highest increase has reached more than 160 times.

In one night, Jenner holders experienced several roller coaster states. Community KOL 0xSun said in the review, "Although I finally made a profit of 80SOL on this coin, I still feel it's a pity, because the first 2SOL I bought in the internal market can be sold for more than 1000SOL at the high point. Just watching the show that night consumed a lot of brain cells."

As of writing, Jenner has retreated from its highs but is still holding higher, currently trading at $0.024.

Is it a blessing for crypto to become popular?

At present, the authenticity of Caitlyn Jenner's coin issuance cannot be confirmed. After all, as an American Internet celebrity who has rarely been involved in the field of encryption in the past, Caitlyn Jenner's Twitter account seems to be too familiar with operating memes.

Regarding this sudden meme drama, there are different opinions in the community besides watching the drama. Some people think that the entry of top American Internet celebrities into the crypto industry and the release of tokens is a great boon to the crypto community. Combined with the recent approval of the Ethereum ETF, Trump's repeated high-profile support for cryptocurrencies, and the popularity of several memes, this incident is another "good news" that will help expand the influence of the crypto community.

The day before the token was released, Caitlyn Jenner retweeted several tweets involving Trump and cryptocurrency. In the weeks before the election, Trump and cryptocurrency have been highly and deeply associated, and it is foreseeable that more American celebrities will "enter the crypto circle" in the future. Some people in the community have already imagined, "What would happen if Kardashian herself released a meme coin."

But it must be mentioned that another incident cannot be missed in these news. A few days ago, a pump.fun developer burned himself to attract attention. Community member Wazz said, "Only brainless people would think that Caitlyn Jenner posting the Pumpfun scam on Twitter to 16 million followers would be conducive to the adoption of cryptocurrency." Someone else took advantage of the previous ETF hot spot to complain, "I just want to see Caitlyn Jenner blatantly violate securities laws on Twitter."

The community is worried that if meme coins become the only label of the crypto community, the original crypto culture of "freedom, decentralization, geek spirit" will face the risk of being eliminated. Of course, the debate over the influence of meme coins has been a long-term topic. For the majority of crypto traders, the most important thing is to distinguish the information between buy and sell. As community members advised, "GCR has told us today that hacking operations against well-known Twitter accounts are taking place. As more and more celebrities continue to launch meme coins - or on weekends when platform engineers are not there - I suggest you be very careful."

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