Solana Michi meme coin it jumped 18% on Monday.according to data from CoinGeckoafter pop artist Ariana Grande shared the meme that inspired the coin Instagram story.
Michi’s meme was edited to feature a pink “love potion”, alongside posters of an adored man with kiss prints on the wall. This is the job of a Big fan account in reference to a music video the singer released for her single “The boy is mine.”
“I think the boy is his, [I don’t know]”, reads the post, followed by the image of the meme. “Hey, it’s me,” one Michi Solana Instagram account commented.
In the eight hours following Grande’s repost, Michi rose just 3% to $0.22. But once a pseudonym crypto influencer Ansem-which had previously helped push coins advertised as Dogwifhat (WIF)—highlighted Grande’s repost on her Twitter, the chart rose 18% to $0.26 in just an hour.
This move comes after a number of celebrities publicly announced their venture into the cryptocurrency industry. In particular, the media personality Caitlyn Jenner launched two coins meme and musician Iggy Azalea debuted herswhile former kickboxer Andrew Tate started to spending spree of meme coins at the end of last week.
It is unlikely that this was a cyber attack on the artist’s account, as he continued with his normal social media activity, including a happy birthday message to his mother.
The move sparked debate on Crypto Twitter over whether or not the post occurred organically. But many believe that it is simply an organic revival of the meme. After all, Michi was a meme before it became a meme coin, and it’s likely that most people sharing the image are unaware of its crypto connection.
In turn, there’s a good chance that Grande has no idea that meme coin exists and instead simply wants to repost a fan-made meme to promote her newly released music video.
“The memes that most of these coins are based on are already viral. If a celebrity posts about this meme, it’s because it’s already viral. They are not promoting the underlying meme coin,” one Twitter user explained. “It’s a great endorsement for the meme itself.”
Decipher reached out to Ariana Grande’s team for clarification, but did not immediately receive a response.
By Andrea Hayward
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment or other advice.
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