Friday night in America marked the first week. A new memecoin called Belieber on Solana had turned 1 week old. The first week was a rocky one to say the least. Belieber, a memecoin based on pop star Justin Bieber, had started at a time a Kanye West followed coin rocketed to $16 million market cap. Although Kanye didn’t stay there long as he had unfollowed the account within 24 hours. However unlike the Kanye token this one was being run by a notorious figure in the space.
Jeremy Ryan, also known as NFT Demon, is the largest NFT artist on BNB Chain. No veteran to the blockchain game he has done consulting with numerous celebrities and Fortune 500 companies. Dig deep enough you can find pictures of him smoking Cannabis with people like Tommy Chong, who follows him on Instagram. His work is currently owned by celebrities like Eminem and his main Twitter account followed by celebrities including Snoop Dogg and John Cena. So it came as no surprise he would launch a celebrity token.
In what seems like an outlandish move, Ryan somehow managed to secure the following of not only Justin Bieber but also Britney Spears, Lady Gaga, Gabriel Iglesias, and even Burger King. But the path to millions wouldn’t be as simple as originally thought. The developer of the token who simply went by X on Telegram had different plans. From the very start of the token he airdropped himself over sixty percent of the supply and started selling it off on every pump, effectively killing the token. Ryan, through private messages verified by Patrol Crypto pleaded with him to stop. He claimed he needed to sell the tokens to pay for promotion, Ryan pointing out that none of his thousands of dollars in promotion had any effect as the token would just fall to the same level after a very brief pump.
Everything came to a head a couple of days in when Ryan insisted he stop selling tokens and let the token run. His response was to sell about forty percent of the supply dropping the token from $120,000 market cap to a mere $4,000. With him out Ryan could then focus on building the token. He formed a new Telegram and begun getting to work. Joined by a very active community that refused to give up the token had hovered around the $20,000 market cap range despite numerous large dumps. In the last 6 hours it has soared to above $50,000. The community remains optimistic and Ryan says it’s far from over.
“It’s more of a marathon than a sprint” says Ryan who has run several successful memecoins including one that hit $800 million market cap, “Traditional promotions don’t work in this industry they never have. Every single token that makes it is done by community not influencers and in fact the largest tokens don’t market at all”. When asked what time line he thinks it will take Ryan said “It’s impossible to tell. Every day you have tokens that didn’t give up spontaneously erupt from our position to millions in market cap. Not a single one through marketing. What have never had and never will is a token that never gives up and never makes it. The key is persistence and the time will come.”.
Ryan says he’s not going anywhere anytime soon and neither is his community. He stated it is the community that makes or breaks any token. But even if they continue growing little by little he believes it will eventually get enough eyes to take off. “This is the first token ever knowingly followed by A List Celebrities” Ryan said, “Kanye didn’t know his Instagram manager followed his token, we are a week in providing security that none following us will pull out”. It is an interesting experiment to see whether a token actually followed by celebrities does as well as those named after them. Only time will tell but two things seem certain. The celebrities following aren’t going anywhere. And neither is Ryan or the community that rallied behind him. We’ll keep you updated as things progress.