Crypto
Pitbull's Album Title 'Pitcoin' Triggers Wave of Meme Coins
Rapper Pitbull's upcoming album title 'Pitcoin' has sparked a wave of unaffiliated crypto tokens, despite no endorsement from him or his label. The album is set to release in early October.
The leading PITCOIN token on Solana (SOL) pool went live on August 12, the same day Billboard published the album title. It has seen a daily volume of $583,231 and holds $54,387 in liquidity.
A newer version of the Pitcoin token in a Uniswap V4 pool on Robinhood's chain rose by 207% in under seven hours, with a valuation of $35,475.
Dozens of other tokens are now trading under the Pitcoin name, but most have market caps below $3,000. This phenomenon is not new, as similar copycat meme coins rallied after Elon Musk's posts and Ye's brand launch.