Sahil Arora, the notorious celebrity meme coin promoter, launched the Floyd Money Mayweather token on the Fomo platform. The token peaked at a $1 million market cap before crashing 96% in three hours. Mayweather promoted the token on social media before selling it for only $5,000 in profit, missing out on over $280,000 in potential gains. According to on-chain analytics firm Bubblemaps, the largest connected wallet cluster made approximately $105,000, and the top 100 traders combined only earned $306,000. Arora claims he plans to replicate his success from Pump.fun in 2024 on Fomo, despite accusations of rug pulls following his previous projects.
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