Key figures: Floyd Money Mayweather meme coin peaked at a $1 million market cap; dropped 96% within three hours on Wednesday; deployer wallet sold for ~$5,000 profit; promotion occurred on Monday; token launched on Solana‑based Fomo platform.
Context
The token was promoted via Floyd Mayweather’s social media, then quickly sold off by the deployer. Sahil Arora, known for celebrity meme‑coin launches on Pump.fun, claims the pull‑back was intentional to drive hype. The rapid price swing illustrates the volatility of celebrity‑driven meme coins on Solana and the risk of rug‑pull schemes.
Bottom Line
Negative sentiment for meme‑coin investors. Capital likely to flee similar projects, pressuring SOL‑based token sentiment. No lasting upside for the specific asset; broader caution may dampen short‑term demand for new meme launches on Solana.