Kanye West Tweet Sparks Meme Coin FOMO, Leading to $50 Million Losses

A recent tweet from rapper Kanye West sparked a speculative frenzy in the meme coin market, resulting in significant losses for investors. Despite not being officially associated with any particular cryptocurrency project, his retweet of a meme coin contract led to two addresses experiencing losses amounting to nearly $50 million. ❌ This event highlights the volatile nature of crypto trading fueled by speculation without direct endorsements from prominent figures like West.