It is with no small measure of astonishment that we find ourselves contemplating the recent tribulations of Mr. Ryan Fournier, co-founder and esteemed chairman of the Students for Trump. His foray into the whimsical world of TikTok-themed meme coins has, alas, not been met with the applause one might expect, but rather a chorus of discontent and incredulity.
Indeed, it appears that Mr. Fournier has been accused of executing what the young people so charmingly term a “rug pull,” a most unfortunate maneuver that has seen the value of the TIKTOK meme coin plummet from a dizzying $90 million to a mere $5 million in market capitalization. One cannot help but wonder if he mistook the coin for a mere trifle, rather than a serious financial instrument. 😏
The Meme Coin Frenzy Surrounding Trump is Getting Out of Hand
In a rather curious social media missive, Mr. Fournier recounted how he was approached by an individual of dubious repute with a proposal to create a coin that would herald TikTok’s potential resurgence in the United States. With the enthusiasm of a schoolboy, he accepted the notion and, in a rather bold move, secured for himself a staggering 50% of the total token supply. One might say he was rather too eager to embrace this modern folly.
As if plucked from the pages of a farcical novel, the coin’s value soared, with Mr. Fournier’s holdings reportedly reaching a peak of $19 million, a figure that would make even the most seasoned investor swoon. However, as the tides of fortune are wont to change, the coin’s value began its inevitable decline, prompting Mr. Fournier to sell a staggering 505 million tokens, thereby exchanging them for approximately $700,000 in SOL. His decision, one might argue, was akin to throwing a lit match into a barrel of gunpowder, triggering a most unfortunate crash in the coin’s price and obliterating significant liquidity. 💥
“Ryan Fournier. 1.2 million followers. I promise you I didn’t rug the shitcoin. Buddy we see your wallet. It’s all on-chain. Their blinding greed is only surpassed by their blinding stupidity,” quipped the astute Mr. Ben Hunt, whose wit is as sharp as a well-honed blade.
In the face of such accusations, Mr. Fournier has vehemently denied any intention to harm the project, attributing his actions to a state of panic as the coin’s value dwindled. “I’m new to crypto and didn’t rug it,” he lamented, as if that were a sufficient explanation for the chaos that ensued.
“I had someone reach out earlier, and they wanted to make a coin to support TikTok’s comeback. That turned out to be a chaotic mess, because I was scammed by said individual. I truly do apologize to everybody who was affected and putting money into that. I’m gonna stay away from the crypto stuff until I get a better understanding of who to trust,” he wrote on X (formerly Twitter), a platform that seems to be a veritable breeding ground for such misadventures.
Whether his actions were deliberate or merely the result of youthful folly, one cannot escape the conclusion that this was, indeed, another rug pull of the most spectacular variety. Blockchain data suggests that the sell-off occurred whilst the coin’s price remained relatively stable, a
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2025-01-21 01:52