Caitlyn Jenner's $JENNER Cryptocurrency on Solana Hits $25M Market Cap, Drops 61%

May 27, 2024, 05:14 AM

Caitlyn Jenner has launched a new cryptocurrency called $JENNER, which has quickly garnered significant attention and controversy. Despite initial reports of her account being hacked, it was confirmed by her manager, Sophia Hutchins, that Jenner's team was socially engineered by Sahil, a known scammer. The token, launched on Solana, saw its market cap skyrocket to $25 million within hours and achieved over $100 million in trading volume, later reaching a $40 million market cap. However, the token's value has since plummeted by 61%. Jenner, who has 15 million followers on Instagram and 3.3 million on X, has faced scrutiny over the legitimacy of the cryptocurrency. The incident has raised questions about the risks involved in the crypto market.