Khamzat Chimaev Accused of Pump-and-Dumping 'Smash' Cryptocurrency
Saturday, 6 July 2024, 15:49
Khamzat Chimaev Accused of Pump-and-Dumping 'Smash' Cryptocurrency
The recent promotion of the SOL-based memecoin 'Smash' by MMA star Khamzat Chimaev resulted in a significant value drop, raising concerns of unethical market manipulation.
Key Points:
- Initial Hype: Chimaev's endorsement led to a surge in 'Smash' coin purchases among his fans.
- Value Plunge: Following the promotion, the cryptocurrency experienced a rapid decline, triggering suspicions of a 'rug pull.'
Such instances underscore the importance of due diligence and cautious investing, especially in speculative markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.