As a seasoned crypto investor with a knack for spotting red flags, I must admit that Jason Derulo’s silence over JASON has raised more questions than answers. Having been burnt multiple times by celebrity-backed scams, I find it hard to trust this meme coin despite the initial hype and Derulo’s grand promises.
It’s been silent from American entertainer Jason Derulo regarding his meme token, JASON, since July, sparking worries about the digital currency’s destiny given his repeated pledges concerning its future and advancement.
In a recent tweet, on-chain detective ZachXBT called attention to Jason Derulo’s lack of involvement in the JASON project, expressing disapproval towards influencers who endorsed the token at its launch. Zach argued that these influencers were mistaken for assuming that the JASON project would be distinct from the numerous scams Derulo had previously publicized.
Derulo’s “Commitment” to JASON
Approximately three months past, Derulo became part of an expanding roster of celebrities introducing meme coins. He showcased his project on the Solana network by making numerous posts, generating memes related to the venture, and inviting community members to engage by investing in it.
According to Zach’s remembrance, Derulo made a promise to users that he wouldn’t deceive them as some other celebrities have. He declared his dedication to the cryptocurrency world and his specific project, expressing his hope that “everyone in our community would be successful.
Jason Derulo collaborated with various initiatives, such as the Movement exchange built on Solana, to streamline the process for crypto beginners wanting to acquire JASON. Additionally, he reached an agreement that enabled JASON token holders to buy properties in Dubai using their tokens and participated in multiple interviews discussing the project.
Some community members believed that Derulo’s efforts could attract millions of new crypto users, but others voiced doubts about the project’s authenticity. In response to these skeptics, Derulo argued that he wasn’t involved in any dishonest activities with his meme coin venture, as he was financially secure, needed to safeguard his reputation and brand, and had already established multi-billion dollar businesses.
JASON Plunges 87%
During Jason Derulo’s aggressive marketing for the JASON token, its market capitalization peaked at a staggering $27 million. The singer suggested that the value could potentially reach $1 billion in the future. However, after the initial excitement and buzz subsided, JASON has suffered a significant loss, with its market cap dropping to just $1.28 million. As per CoinMarketCap data, the token was valued at approximately $0.00122 at the time of writing.
As an analyst, I find myself growing increasingly concerned, for it’s been since late July that I last saw a post from Derulo regarding the token. In that post, he mentioned creating a strategic partnership roadmap and planning ways to rejuvenate the project. However, with no updates on this front, my anticipation continues to build.
Later on, Zach mentioned that Derulo posted about a new meme token on September 3, but he quickly took down the tweet afterward.
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2024-09-06 21:32