Why are people still falling for these celebrities tokens?
More than 51800 traders lost while they invested on this token among the 70200 people that invested on the token. Among the people that lost money, 3 traders lost over $1 million.
The token first increase 1400% before falling 80% according to the news. I am not tracking the token and I will not. So maybe it has fallen more.
https://startupnews.fyi/2025/08/28/51000-traders-lost-74m-while-11-netted-1m/It's the same concept as to "Why people are still investing into new meme coins?". Concept of profit.
They believe that if they invest into a token where there's a celebrity being involved on it, they will make money because the influence of that celebrity will make the project more popular hence, more investors will buy the project. Well, that's how newbies think. We that have been in the crypto space for quite some time know that this isn't always the case... or this isn't the case at all. I've seen projects in the past especially those projects in 2017-2018 where they paid a celebrity to promote their project only to end up as a failed or abandoned one. In the end, the only ones that made money are the celebrity/celebrities, and the developers.
I'm not tracking the token anymore, and I will never do. My only regret when it comes to this token is that, it has been listed on MEXC, I've seen it as well, but didn't short it or else, I could've made a huge profit on it.