Rich The Kid’s Crypto Collapses as Market Rejects Celebrity Shills
American rapper Rich the Kid, whose real name is Dimitri Roger, appeared in a crypto fiasco after a now-deleted post on his X account. But what happened?
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On February 23, a post promoting a fake Kanye coin appeared on his account. After being launched on Pump.fun, the token increased in value and then dropped.
Although there’s no trace of Rich the Kid’s involvement with the memecoin now, crypto Twitter took some screenshots.
According to CRG (@MacroCRG) and Degen News (@DegenerateNews), it took 1 hour for the rapper to promote a scam token, delete the post, and claim he was hacked.
Sharing the post, CRG added that despite having 2.3 million followers, Rich the Kid couldn’t make the token’s market cap hit $100,000. A good sign, according to the analyst, is that people are learning not to buy scam celebrity coins.
It’s not the first time Rich the Kid has been involved in crypto scandals. Apparently, the rapper likes following and participating in trends in the space.
In October 2021, he launched an NFT collection named after him. By December of that year, the price of the NFTs fell, and the project’s website shut down.
Later, in May 2024, Rich the Kid said his X account was hacked, and attackers posted a link to a memecoin on Pump.fun. Caitlyn Jenner made a similar claim too.
Despite the unpleasant event, the rapper continues to be interested in memecoins. Several times this month, he asked followers which is the best memecoin for him to check out.
What Does the Memecoin Story Mean for Rich the Kid?
Even with his crypto slip-ups, it seems like Rich the Kid isn’t done with crypto just yet. But that raises an important question: Does he really understand the risks, or is he just jumping on the trend without fully realizing the possible downsides?
Rich keeps getting involved in these shaky ventures, which makes it seem like, like many celebs, he’s drawn to digital currencies—whether it’s for potential profits or just to stay relevant in today’s digital culture.
As the crypto space continues its wild ups and downs, it’s hard to say if Rich’s next moves will lead to more wins, more drama, or maybe a bit of both.
What’s clear is that this latest chapter serves as a reminder of the responsibility that comes with having influence, especially in areas like crypto that are still very unpredictable.
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