Shkreli's Meme Coin Bubble Bursts: MARTIN Crashes 97% in Value

Controversial investor Martin Shkreli is at it again with his meme coins. This time, he launched a Solana-based meme coin called MARTIN on Pump.fun, which briefly surged to $0.0031 before sharply retracing by early Tuesday. The market cap declined to approximately $150,000.

CITRINI, another meme coin tied to Shkreli, exhibited identical behavior, dropping from $0.0031 to $0.000087, a decline of 97%. This is not the first rug pull token launched by Shkreli; in July 2022, he created Martin Shkreli Inu (MSI), which plummeted more than 90% after being dumped by a wallet associated with him.

Shkreli has been accused of endorsing scam projects and causing financial losses for numerous participants. He maintains his characteristic evasive communication style, often replying with brief statements and refusing to acknowledge any issues. When followers lamented their losses in the comments, he showed no remorse, simply retorting, 'How did you lose 97%?'

Shkreli's history of launching meme coins has left a trail of financial devastation behind him. In June 2024, two years after MSI collapsed, another Solana-based memecoin tied to him, DJT, experienced a similar collapse due to wallet sell-offs.