Solana A new memecoin based on “UPONLY” has recently been launched and 60% of its total supply of 1 billion is from the well-known brand known as Cobie crypto para Sent to trader Jordan Fish.
Despite a significant allocation of tokens, Cobie responded by burning the entire token amount, permanently removing the tokens from circulation.
Cobie, who gained popularity by hosting the UpOnly podcast with fellow trader Brian Krogsgard (known as Ledger), has not released an episode since December 2022, following the collapse of the podcast’s sponsor, FTX. When a community member tried to promote the memecoin called UPONLY, Cobie dismissed the project and shared a screenshot of a potential swap of the tokens for Dogwifhat (WIF), a popular memecoin.
If the transaction were completed, it would be over 90% slippage, potentially bringing in $55,000 for the 600 million tokens received. Cobie chose to burn the tokens instead.
“They made a memecoin and sent me some, I burned the tokens they sent me and asked them to leave me alone,” Cobie later wrote in her statement on X. Blockchain data from Solscan confirms that there are only 400 million UPONLY tokens left in circulation.
UPONLY’s value dropped sharply, reaching a theoretical market cap of $45 million before falling to $5.3 million after Cobie’s token burn. Currently, the token’s market cap is around $8 million, according to data from DEX Screener, but its liquidity is limited to $695,000.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/unlu-influencer-bu-memecoinin-toplam-arzinin-yuzde-60ini-bir-anda-yakti/
