Pizza gourmets pull the market, JAILSTOOL meme coin soared 50,000 times in 24 hours and then fell rapidly

The founder of the American sports and pop culture website BarStool Sports, Dave Portnoy, a well-known social media influencer, promoted the meme coin JailStool, which surged 55,000% in 24 hours. This meme coin, which parodies the founder of BarStool, saw its market cap quickly jump from less than $1 million to $238 million. After heavily promoting it, Portnoy immediately "dumped" the meme coin, sparking strong criticism from the meme coin community. Dave Portnoy then posted to put out the fire, but continued to retweet posts related to the JailStool meme coin, including a mocking image created by Beeple. Who is Dave Portnoy? Dave Portnoy is a well-known influencer, not only for founding the BarStool sports and entertainment website, but also for being a famous pizza connoisseur, having tried pizza shops all over New York City, sparking a craze for people to follow and taste Italian pizza. His YouTube channel One Bite Pizza Reviews has 1.42 million subscribers. Last Friday, Dave Portnoy began posting on X that he was very interested in the meme coin StoolPrisondente (JAILSTOOL), as the name implies putting the founder of BarStool in jail, which the BarStool founder Dave Portnoy found amusing. He was prepared to increase his investment in this meme coin, but after making a large investment in the coin, he quickly dumped it, and the crypto community began to accuse him of intentionally inflating the coin price and then running away. Can you still invest in JailStool? JailStool is a Solana meme coin issued on Pump.Fun. Due to the promotion by pizza connoisseur Dave Portnoy, it quickly skyrocketed in just 24 hours, with its market cap reaching $238 million at its peak on Sunday, making it the most explosive meme coin of the week, but the price has since corrected. The well-known artist Beeple also helped to stir things up on Twitter, posting a creation of JailStool, depicting Dave Portnoy and FTX founder Sam Bankman Fried in the same prison cell, with rats and pizza on the floor, and his post was retweeted and shared by Dave Portnoy. Facing criticism from fans, Portnoy issued a warning that he did not intend to hold the JailStool meme coin indefinitely, and emphasized that the meme coin community should bear the risks and rewards. Kraken lists JailStool The cryptocurrency exchange Kraken has announced the listing of the Solana meme coin JailStool. According to CoinGecko data, the coin price has come to $0.07 (about 0.0003843 SOL), a decline of about 27%. Even though mainstream exchanges are also jumping on the meme coin bandwagon, the market cap and coin price are still rapidly declining. This is purely an academic observation and does not constitute any investment advice. Risk Warning Investing in cryptocurrencies carries a high degree of risk, and their prices may fluctuate dramatically. You may lose your entire principal. Please carefully assess the risks.