Sahil Arora launches Floyd Mayweather token in Fomo, market value drops 96%

Sahil Arora, a promoter of encrypted celebrity tokens, has launched the Floyd Mayweather Meme coin on the Solana ecosystem trading platform Fomo, which was previously promoted on Floyd Mayweather's social media account. The maximum market value of the token reached $1 million, followed by a 96% decline within 3 hours. After promoting the Floyd Mayweather account, the deployer's wallet sold tokens and made a profit of $5000, and the related post was subsequently deleted. Sahil Arora stated that the process was planned by him and claimed to have made seven figure profits through other wallets. BubbleMaps reported that the largest associated wallet cluster earned approximately $105000, with the top 100 traders earning a total of $306000. (Source: Decrypt)