Diddy Meme Coin Soars and Crashes Amid Legal Troubles
- Sean “Diddy” Combs promoted the Official Diddy Meme (DIDDY) coin on his X account.
- The token’s market cap soared to $181 million before crashing by 79.5% to $37 million.
- Ye, formerly Kanye West, reposted the promotion, temporarily boosting the market cap to $81.5 million.
- Crypto attorney Ariel Givner suggested this could affect Diddy’s trial outcome for sex trafficking charges.
- Sahil Arora claimed involvement in the scheme, linking it to previous celebrity crypto promotions.
The Official Diddy Meme coin experienced a volatile rise and fall in market value following its promotion by Sean Combs and Ye’s repost, amidst Combs’ ongoing legal issues.
Source (2.6)https://decrypt.co/318801/diddy-meme-coin-180-million?rand=52368
