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ZachXBT Sounds Alarm on Soulja Boy’s New Meme Coin Launch

Key Takeaways

  • ZachXBT warned about a new Soulja Boy-linked meme coin after Base’s Jesse Pollak shared a $1,500 ETH buy of the token;
  • The rapper’s past crypto promos and NFT drops drew scrutiny, with ZachXBT estimating he earned $730,000 during the 2021 bull run;
  • Soulja Boy’s new coin, SOULJABOY, hit an $85,000 market cap; he admits past mistakes and claims ignorance of scam links.

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ZachXBT Sounds Alarm on Soulja Boy’s New Meme Coin Launch

ZachXBT, a blockchain investigator, warned about a newly launched meme coin linked to rapper Soulja Boy, after Jesse Pollak, co‑founder of Base, shared a $1,500 Ethereum ETH $2,832.52 purchase he directed toward the token via a post on X.

ZachXBT's alert referenced a research thread from April 2023 in which he detailed six tokens endorsed by Soulja Boy, including RapDoge, Orion, The Life Token, Flokinomics, and SafeMars.

The rapper previously released at least nine non-fungible token (NFT) collections in 2021. Many of these were later deleted from OpenSea or failed to deliver any promised utility, according to ZachXBT's findings.

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ZachXBT estimated that Soulja Boy earned about $730,000 in promotional income during the 2021 crypto bull market.

Since launching the new token, SOULJABOY, on December 12, the project has reached a market capitalization of approximately $85,000 and attracted backing from 331 holders, according to data from the Base app.

The rapper responded on X that he has learned a lot since his earlier activities and accepts responsibility for a previous lack of research. He said:

I had no knowledge that a scammer named Sahil was involved or paying me to promote anything fraudulent.

He added that, at the time, paid promotions were done without a full understanding of the crypto or NFT industry.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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