According to Decrypt, the value of Caitlyn Jenner’s Solana Meme Coin has dropped significantly after the release of an Ethereum token supporting Trump.

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Caitlyn Jenner’s Solana meme coin, JENNER, has seen a drastic 66% decrease in value in the past 24 hours after the announcement of a new token on Ethereum to support Donald Trump’s presidential campaign. Initially causing confusion among crypto enthusiasts, it was later revealed that Jenner was collaborating with Sahil Arora on the project. Despite an initial surge in value, the launch of the new Ethereum version of JENNER caused a 58% drop in price within two hours and a total decrease of 66% within a day.

Arora, known for creating other celebrity-themed tokens, distanced himself from Jenner’s new token and criticized her actions. In an attempt to revive her token’s value, Jenner announced on Twitter Spaces that a 3% tax would be applied to each transaction, with proceeds going towards supporting Trump’s campaign once the token reaches a market cap of $50 million.

While Jenner’s previous Solana token reached a market cap of $42 million, her new Ethereum project only achieved $4.75 million shortly after launch. Currently, the token’s market cap is sitting at $2.4 million, far from the $50 million goal inspired by Trump.

Jenner has received backlash and criticism on social media as the value of her token continues to decline. One user even implored her to “Give Solana the love back!”

In summary, Jenner’s venture into cryptocurrency has been met with mixed reactions and significant price fluctuations. Stay informed with the latest developments by subscribing to the Daily Debrief Newsletter for top stories, features, podcasts, videos, and more.