By
Kseniia Klichova
June 26th, 2024
Amber Rose promised to “provide transparent and informed communication to the MUVA community.
Amber Rose Levonchuck, an American model and rapper, has jumped into the meme coin craze by launching her own token named MUVA.
On June 24, she teased her 3.5 million followers on X (formerly Twitter) with the question “Y’all ready for my coin to drop?”. A few days later, MUVA went live and the token is based on the Solana ecosystem.
Promise of Commitment and Transparency
When she first hinted about the new token on her social media account, blockchain detective ZachXBT warned investors to be cautious as Amber Rose has been involved in promoting fake crypto projects involved in rug pulls or pump-and-dump scams.
In response, the 40-year-old American model claimed she lacked good knowledge of the crypto economy when she ran promotional campaigns for the projects. She assured her followers that she now knows better and is dedicated to seeing MUVA succeed.
“I’d like to address this community note. When I made those promotional posts, I wasn’t as knowledgeable about crypto as I am now. At the time, I didn’t fully understand the nature of paid promotions in this space. Moving forward, I want to assure you that I’m committed to this project for the long run and will be heavily involved,” she wrote on X.
She further promised to “provide transparent and informed communication to the MUVA community.
Not the First
Despite her assurance of commitment to the meme project, BlockBeats has raised concerns about the token distribution.
The company disclosed that a newly created address related to MUVA has already secured 7.2% of the total supply of the token. So far, the wallet has sold a total of 227 SOL, equivalent to $33,000 at the current market price of $145.
Meanwhile, Amber Rose is not the first celebrity to launch a meme coin. Last month, Australian rapper and model Iggy Azalea debuted her own token known as MOTHER.
Due to the buzz generated around the token, she announced plans to relaunch a mobile phone company she co-founded to enable users purchase and pay for phone bills using the meme to increase its utility.
The meme coin market has also seen the likes of Andrew Tate, a popular media personality and former professional kickboxer enter the sector. In May, he posted on the social media platform X that he would support a meme coin dubbed Daddy Tate (DADDY).
Both MOTHER and DADDY have been successful with each reaching the $300 million milestone before the recent market downturn that affected the price of the tokens.