Andrew Tate participates in meme coin fever, promises to pump “shitcoins”
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Andrew Tate, a famous internet personality, tweeted on May 18 to pump a few altcoins.
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The influencer added that he would randomly select a coin on June 1 and tweet about it.
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This development comes after the PEPE meme coin hit nearly $1.3 billion in market capitalization, fueled by frenzy and hype.
Andrew Tate, a popular internet influencer and a multi-millionaire, revealed his crypto plans for meme coins. As Bitcoin (BTC) price takes a backseat, altcoins hang in the balance, but the ex-kickboxer seems to be renewing interest with his latest tweet.
Also read: PEPE coin surges 250%, and market cap crosses $1.5 billion ahead of Binance listing
Andrew Tate plans to pump meme coins
On May 18, Andrew Tate tweeted that he would randomly pump “Shitcoins” starting June 1. This comes at a time when Bitcoin price remains directionless, and altcoins are beholden to the big crypto.
OK FUCK IT I WILL ENDORSE A SHITCOIN AND SEND IT TO THE FUCKING MOON ON THE 1ST OF JUNE.
DONT BUY ANY COIN UNTILL YOU GET THE SIGNAL FROM ME THEYRE ALL SCAMS.
HU STUDENTS GET TOLD 1 HOUR IN ADVANCE.
EMAIL LIST GETS 5MINS IN ADVANCE.
THEN I PUMP SOME RANDOM GARBAGE TO…
— Andrew Tate (@Cobratate) May 17, 2023
Before the multi-millionaire revealed his plans for what seems like a classic pump and dump, the meme coins went through a cycle, creating a mass frenzy or hype. The altcoin or shitcoin in question was PEPE”
The altcoin, with seemingly no value, was suddenly popular, causing retail investors to jump on the trend. This move caused the altcoin’s market cap to pump from a few hundred million to nearly $1.3 billion at its peak on May 5. As investors began to book profits, the hype faded, causing a steep correction.
Andrew Tate’s tweet drew a lot of attention and opinions from the crypto community and is reminiscent of the pump and dump days by popular British Programmer John McAfee.
A Twitter user with the screen name “nostradumbass23” tweeted,
You are literally in bottom of da barrel pvp stage anons. I fear what May come soon"
Tate pulls a 180
Interestingly, this move from Tate comes a few hours after he posted a video clearly explaining that he would never endorse and crypto. After Andrew Tate put up a tweet on May 16 explaining how a “bunch of aspy idiots” launched a shitcoin called “$sluts.”
The crypto community soon started alleging that Andrew Tate had already created the said coin and was just looking to pump it. This en masse criticism pushed the retired kickboxer to put out a video response saying he would “never endorse shitcoins.”
I DO NOT ENDORSE SHITCOINS.
I’m not a scammer like every other “influencer”
I don’t need to rob my fans.
I DO NOT HAVE ANYTHING TO DO WITH ANY CRYPTO. pic.twitter.com/tlLQ8Iunz3
— Andrew Tate (@Cobratate) May 17, 2023
But as seen in his latest tweet, Tate seems to be willingly pumping altcoins and providing the tickers of these coins to his paid subscribers of his website.
Author
Akash Girimath
FXStreet
Akash Girimath is a Mechanical Engineer interested in the chaos of the financial markets. Trying to make sense of this convoluted yet fascinating space, he switched his engineering job to become a crypto reporter and analyst.
