$JAILSTOOL Speedway $200 million: A celebrity tweet, the market rekinds the enthusiasm for Meme hype

Author: Deebs DeFi

Compiled by: TechFlow

This is Dave Portnoy.

The millionaire business tycoon once pushed a Meme coin to a market value of $150 million in just 3 hours.

But who is @stoolpresidente? Is he a hero or a liar?

Here is his complete story.

Dave Portnoy, nicknamed "El Presidente", is an American entrepreneur known for founding Barstool Sports.

Barstool Sports was originally just a small sports newspaper he distributed in the subway, but it grew into a multi-million-dollar business empire.

However, Barstool is not the only reason Dave became famous.

Dave is also a well-known internet celebrity.

He has attracted much attention in the United States for his sharp pizza reviews and crazy sports betting.

Therefore, it is no surprise that Dave is investing in another exciting field, which is the cryptocurrency known as the "most exciting casino in the world".

Dave's cryptocurrency journey began when he revealed that he might launch a token.

However, he said he still needed to learn more.

He wants to make sure that any token he launches is safe and fair.

However, what happened next was beyond everyone's expectations...

Dave started buying some tokens on Solana casually and sharing these actions on Twitter.

He soon discovered the profitable potential of cryptocurrencies—in just a few minutes, he turned $10,000 into $75,000.

He also told everyone frankly that he would sell these tokens.

But this behavior has aroused dissatisfaction among the crypto community.

Many people directly call Dave a liar, including @coffeebreak_YT.

It seems that the entire crypto community is denying Dave.

But Dave's decision was unexpected again.

At 20:41 on February 8 (UTC), Dave bought a new token worth $200, called #JAILSTOOL.

Like the tokens he bought before, this is not the token he issued himself.

Therefore, at first, no one cared about it.

However, Dave started tweeting again.

He found the token very interesting and told investors that he would not sell it in the near future.

As a result, prices soared.

However, not everyone believes Dave's words. The creator and largest holder of #JAILSTOOL are skeptical about this.

Hours after Dave tweeted, the creator of #JAILSTOOL sold 20 million tokens and cashed out $50,000.

However, Dave did not choose to sell his position, but instead increased his investment in tokens worth $200,000.

What will happen next can be imagined.

#JAILSTOOL's price has ushered in a crazy wave of rises.

In just 3 hours, JAILSTOOL's market value soared to $150 million.

Today, its market value has exceeded US$200 million, and its momentum shows no sign of weakening.

But the question is: What happens next? Is this token safe and reliable? Does it have more room for growth?

About security: Judging from the current supply situation, the distribution of JAILSTOOL is quite healthy.

There are many people holding the currency, and there are no obvious signs of insider trading.

However, I need to remind everyone that there is a holder who has nearly 8% of the total supply.

This wallet and Dave may sell it at any time.

But do I think Dave will sell it right away?

Not likely in the short term. (Non-financial advice)

Why do you say so? Because Dave has tied his cryptocurrency reputation to this token. He must have wanted to see what height this coin can rise to.

You can check out his tweets.

If you know Dave’s pizza reviews, you know he’s an extremely proud person.

In my opinion, being able to control a top Meme coin is far more important to him than a few million dollars.

So, what is the room for this token to rise?

I want to be clear: it all depends on Dave's decision.

Although he did not initially intend to make this Token his "official currency", there are many reasons that might change his mind:

1. Legal risks are very small. (After all, he is not the creator of this Token)
2. He has some control over the supply.
3. His fans have made a lot of money from it.
4. If he sells out now, it will only damage his growing reputation in the crypto community.

If Dave finally accepts that Token becomes his "official currency", it is not impossible to reach a market value of $1 billion.

We have also seen successful cases similar to celebrity Meme coins before. (Non-financial advice)