Controversial internet personality Andrew Tate has plans to crash down Solana (SOL). As revealed on his X handle, this has led him to incinerate one of the tokens in his portfolio.
Andrew Tate Burns 58% of TOP G’s Supply
Andrew Tate burnt 587 million tokens of a newly launched Solana memecoin called TOP G.
The value of the burnt token is approximately $11 million. His action has triggered an uproar in the Solana digital asset ecosystem. The price of TOP G skyrocketed by 130% after the incineration and its market capitalization pushed past $65 million. Through this move, Tate has successfully incinerated more than half of the coin’s supply.
On TOP G’s official X account, the protocol behind the memecoin praised the former kickboxer for burning 58% of its supply. As it stands, only 37% of the coin’s supply is in circulation. The X account strongly believes that this was a strategic move from Tate to increase the market value of the coin.
Consequently, they celebrated the milestone with the declaration, “Now we cook.”
Tate Plans to Crash the Solana Network
Moving forward, Tate still plans to “crash Solana” and he is confident that TOP G would be the catalyst toward achieving his plans. Considering the existing intense debate that exists in the crypto industry amongst blockchains, Tate’s provocative statement about Solana may lead to unforeseen rancor.
I TOLD YOU. ITS TIME TO CRASH SOLANA. LOOK WHAT I CAN DO. TOP G IS GOING TO BURN IT ALL.
REAL NIGGER TATE IS GOING TO CRASH SOLANA https://t.co/pdrLx1Jbad pic.twitter.com/WBs5NGXvu9
— Andrew Tate (@Cobratate) June 7, 2024
Market observers believe that his statements were deliberately targeted at directing attention towards him. Plus he mentioned that the burn was meant to show his power and influence within the crypto world.
In his defense, Tate claimed to not have gained anything from the recent burn of TOP G. Even with the significant loss from burning the tokens, Tate has remained obstinate. After a while, he posted a follow-up statement correcting his initial post. “Correction. I lost $11 million by setting it on fire ;).” Tate has made more provocative posts on X after the initial one where he talked about crashing Solana.
While he is waging war against Solana, the media star once reiterated his major love for Bitcoin which he hopes to stack more of.
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