UK Rapper Russ Tens of millions’ Meme Coin $MILLION Tanks 99% in ‘Social Experiment’ Gone Flawed 

Millionaire ($MILLION), Backed by the UK’s largest drill rapper Russ Tens of millions, appears the newest movie star meme coin wrapped in controversy after tanking 99%.

Russ described the brand new meme coin as a “social experiment” throughout an Instagram story saying its launch on January 1, claiming its traders will “all change into millionaires.”

The challenge made rounds on social media platform X by endorsements from the likes of fashionable merchants Crypto Rover and Mister Crypto, amongst others.

To calm rampant rug-pull fears, Russ burned his whole holding of 153 million tokens, however this didn’t cease the pump and dump that ensued.

“I burned all my tokens Let’s see how large we will go. I achieve music, I’ll do it with $MILLION as effectively,” stated Russ.

Whereas the coin initially confirmed promise, peaking at simply over a $1 million market cap, it shortly turned for the worst with its worth plunging 99% inside simply 12 hours.

Now, $MILLION mulls at simply $31,000, a far cry from its formidable $100 million goal.

Put up-crash, the X account related to the challenge maintains optimism, claiming the brand new low to be a backside reasonably than the dying of the challenge.

How $Million Tanked 99%: A Social Experiment Gone Flawed

The latest posts by the account at the moment are flooded with feedback labelling the challenge a “rip-off.” One late investor took to X to specific their frustrations, rappelling with unrealized losses of 95%.

In the meantime, those that promoted the challenge are going through criticism for deceptive their followers, with claims that it may very well be the subsequent “subsequent $DADDY or $MOTHER” falling flat.

Fortuitously, most had been sensible to this all-so-common theme amongst movie star meme cash.

Because the first day, the challenge obtained criticism as “simply one other rug pull,” with feedback pointing to the label of a “social experiment” as a comedic however damning signal.

2024 noticed a number of influencer-launched meme coin controversies. Most just lately, Haliey Welch, the “Hawk Tuah Woman,” confronted a lawsuit after her meme coin $Hawk grew to become wrapped in an insider buying and selling controversy.

Within the high-risk high-reward meme coin area, it’s vital that traders do their due diligence to stop potential scams and rug pulls.

Russ Nonetheless Has ‘HUGE’ Plans – Did $Million Holders Promote Too Early?

Regardless of this, Russ distances $MILLION from previous movie star meme cash, stating he has “HUGE plans, not like different folks on this business, that’s why I burned all my tokens.”

One such plan is a 1,000 SOL airdrop, valued at $1 million, set for January 3 to reward token holders. Nevertheless, no updates have surfaced concerning its execution.

Russ has additionally tied the token to his music profession, promising to launch a monitor titled “Million” as soon as the challenge reaches a $3 million market cap.

Whereas the milestone wasn’t achieved, he confirmed the track will go forward and be launched on January 4.

Russ boldly proclaimed the monitor as his subsequent large hit, predicting it might change into the “first mainstream & #1 meme coin track on Spotify” and a defining anthem for 2025.

Extra so, Russ teased a merchandise line for the token, signaling plans to construct a broader ecosystem round $MILLION.

Regardless of these ambitions, the token’s decline and public sentiment could undermine these efforts.

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