cardi B’s WAP memecoin Drama: 100% price Surge Followed by Sudden Crash
On June 3, Cardi B shared news about Wet Ass and Pussy (WAP) memecoin on X, causing its price to double within minutes. The musician’s post excited crypto enthusiasts, pushing the coin’s value from $0.0011 to $0.0022.
However, the joy was short-lived. The market cap fell dramatically from $2.5 million to just $139,000. Who was to blame? Wallets that had been stockpiling WAP for five days prior to Cardi’s post quickly sold their holdings, earning ten times their investment. @dethective,a user known for exposing dump strategies,shed light on this cunning move.
This incident mirrored a previous event. In october last year, Cardi B had promoted the same memecoin, leading to a brief market cap spike of $40 million. Yet,it soon crashed below $200,000. peckshield, a security firm, even flagged it for potentially suspicious activities.
Some crypto experts criticized those who fell for the scam again. “If you invested in @iamcardib’s WAP, you deserved the loss,” said Patrick Schmitt. ZachXBT, an on-chain sleuth, suggested Cardi B’s motives might be linked to her financial disputes with Offset.
