Andrew Tate Burns $38M Solana Meme Coin Tokens, Vows To Crash Network

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Andrew Tate Burns $38M Solana Meme Coin Tokens, Vows To Crash Network – Crypto News

Published

10 months ago

June 8, 2024

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In a series of provocative tweets, former kickboxer and internet celebrity Andrew Tate has ignited yet another crypto controversy via a massive burn in the Solana ecosystem. Tate revealed that he had burned $11 million worth of a new Solana meme coin, TOP G, sending the tokens to the SOL Incinerator. This dramatic move caused the price of the TOPG coin to skyrocket by over 130%, pushing its market cap to over $65 million.

The Top G meme coin’s official Twitter account praised Tate for burning 58% of the coin’s supply, leaving only 37% in circulation. Moreover, the account suggested that this drastic reduction in supply was a strategic move by Tate, aimed at boosting the coin’s value. They celebrated the decision with the declaration, “Now we cook.”

Andrew Tate’s Solana Meme Coin Burn Saga

Tate’s bold actions didn’t stop there. In subsequent tweets, he vowed to “crash Solana.” He boasted about his ability to disrupt the network, confidently asserting that his Top G coin would be the catalyst for “burning it all.” Furthermore, Tate’s language was deliberately provocative, aimed at garnering maximum attention and stoking controversy.

In one tweet, Tate proclaimed, “I WILL CRASH THE SOLANA NETWORK.” He further stirred the pot by stating, “LOOK WHAT I CAN DO. TOP G IS GOING TO BURN IT ALL.” Tate’s tweets quickly went viral, adding fuel to the already intense debate within the crypto space.

Tate’s tweets didn’t just stop at his intentions to crash Solana. He also encouraged his followers to send him coins, leading to an influx of tokens. After burning the tokens, Tate boasted, “GUESS HOW MUCH MONEY I’VE MADE TODAY? ZERO.” Moreover, he claimed that he had made over $100 million in trades through Solana, turning people into millionaires.

However, he noted that he personally profited nothing from the recent Solana meme coin burn. Despite the significant loss from burning the tokens, Tate remained defiant. He corrected himself in a follow-up tweet, saying, “Correction. I lost $11 million by setting it on fire ;)” The burn, he noted, was intended to show his power and influence within the crypto world.

In another tweet, Tate wrote, “Feeling rich and reckless. 2000 RTs and I will diamond hands over 1M USD today into random shit that I NEVER EVER SELL.” This tweet garnered over 5700 retweets, prompting Tate to purchase $100,000 worth of GameStop (GME) shares at $46.55 per share. On a similar note, he wrote, “2000 RETWEETS AND I BUY MORE JUNK DIAMOND HANDS NEVER SELLING IN IT FOR THE LULZ WE MUST CRASH SOLANA.”

Also Read: Could Solana Price Reach $1,000 If Crypto Market Cap Rockets To $5 Trillion?

Impact On TOP G Price

Tate’s actions have drawn a mixed response from the crypto community. Some view him as a reckless influencer, while others see him as a strategic player leveraging his influence to impact the market. Regardless of the opinions, Tate’s ability to create waves in the crypto world is undeniable.

The impact of Tate’s actions was immediate. The price of the Top G coin surged by over 135%, pushing the value of burned tokens to a massive $38.77 million. This remarkable price rally was attributed to the massive token burn, which effectively removed a substantial portion of the tokens from the market.

The controversy surrounding Andrew Tate and the Top G coin is far from over. The internet celebrity has expressed his desire to perform similar burns on the Solana network. Moreover, he asked his fans to send him coins so he could execute his next move. Earlier, the TOP G tokens he burned were reportedly sent by his fans.

Also Read: Where’s The Popular Solana Meme Coins Standing Today? Hike Or Drop