- Before the Monday jump, pop sensation Ariana Grande tweeted a Michi meme, sparking discussion over whether or not she was aware of its cryptocurrency connection.
According to CoinGecko data, Michi increased by 18% early on Monday following pop singer Ariana Grande’s Instagram story post of the meme that served as the coin’s inspiration.
The Michi meme was modified to place wall posters showing a man getting kisses and affection next to a pink “love potion” on the wall. This is the setup of a fan account in relation to the music video that Grande created for her song The Boy Is Mine.
The meme image is posted next to the text, “I think the boy is hers, [I don’t know].” A Michi Solana Instagram account wrote, “Hey, it’s me.”
The only increase Michi saw in the eight hours that followed Grande’s repost was 3%, to $0.22. However, the chart shot up 18% to $0.26 in less than an hour when anonymous cryptocurrency influencer Ansem—who had previously assisted in driving cryptocurrencies like Dogwifhat (WIF)—highlighted Grande’s repost on his Twitter.
This action follows several celebrities who have made their forays into the cryptocurrency space known to the public. Notable meme currency launches include two from media icon Caitlyn Jenner and one from musician Iggy Azalea. Late last week, former kickboxer Andrew Tate went on a meme coin buying binge.
Given that the artist has carried on with her regular social media activity, including wishing her mother a happy birthday, it seems unlikely that this was any kind of account hack.
The action spurred discussion on Crypto Twitter on whether the post came about naturally or not. However, a lot of people think that this was just the meme being naturally reposted.
Given that Michi was a meme before it was a meme coin, and that the majority of users who share the image are probably not aware of its cryptocurrency background.
Grande, on the other hand, probably has no knowledge that the meme coin even exists and was only trying to promote her recently released music video by reposting a meme created by a fan.
The majority of these coins are based on previously popular memes. When celebrities share a meme, it’s usually because they’ve already seen it go viral.
They don’t support the meme currency that powers them, a Twitter user claims. It’s a great compliment to the meme itself.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
