Fun

American Rapper Cardi B Endorses WAP Token Again—But Is It A Rugpull?

News Feed - 2025-06-05 08:06:16

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Cardi B’s recent post about the meme token Wet A*s P*ssy (WAP) turned into a dramatic market shakeup. Within minutes, WAP’s market cap plunged from $2 million to just $150,000. The token’s price shot up to $0.0020 briefly, then tumbled over 90% back to $0.00019, wiping away almost all of this week’s gains. Related Reading Is $250K Bitcoin Possible This Year? This Research Chief Thinks So 1 day ago Celebrity Tweet Sparks Chaos


According to reports, Cardi B shared a wallet address on her official X account with the caption “even wetter than last time.” That single message sent ripples through the crypto world. Prices leaped, then crashed. Market watchers were left scratching their heads as billions of dollars in value seemed to vanish in mere moments. Suspicious Wallet Activity


Blockchain trackers spotted something odd. A handful of wallets bought big chunks of WAP just five days before the tweet. They offloaded their tokens almost immediately after Cardi B’s post, banking roughly 10 times their original stake. So today, @iamcardib remembered that she still held a large portion of the $WAP supply and decided to run another pump and dump.


The token went from 2.5M to 139k a couple of minutes after the tweet


The dump was triggered by some wallets that bought the token around five days… pic.twitter.com/7Nwr27rcZA


— dethective (@dethective) June 3, 2025



These sudden sells helped push the token’s price back down to around $0.00019. Based on reports, this pattern looks like a classic pump-and-dump. It raises questions about whether insiders planned the entire move. POV you might owe millions pic.twitter.com/j9FGLgoSBM


— ZachXBT (@zachxbt) June 4, 2025 History Of WAP Controversies


This isn’t the first time WAP caused trouble. Back in October 2024, Cardi B gave it a shout-out, and security firm PeckShield flagged the token for possible malicious deeds.


That earlier buzz even led to an investigation by the UAE’s Securities and Commodities Authority after investors raised alarms over fraud and market manipulation. Many in the crypto community thought everyone would steer clear this time. Instead, the past slipped from memory, leading to heavy losses all over again. BTC is now trading at $105,184. Chart: TradingView Investors Left Holding The Bag


In the last 24 hours, WAP’s value dropped another 80%. Now it trades near the same levels it was at the end of May. Everyday traders who jumped on the hype found themselves staring at red numbers.


Based on reports, some wallets walked away with tenfold returns in minutes. Meanwhile, others ended up with nearly worthless tokens. The speed of this rise-and-fall serves as a harsh reminder: if you buy a token right as it peaks, you might be stuck when the next crash hits. Related Reading $500M Bet On Solana: Education Platform Aims To Supercharge Its Treasury 20 hours ago


Cardi B’s follow-up post clarified that her account was not hacked, promising more from “$WAP space” soon. Yet this explanation did little to calm nerves. Critics say it’s hard to separate the artist’s genuine interest from a planned marketing push. Some point out that even if she didn’t directly benefit, her endorsement gave insiders exactly the spotlight they needed to unload their shares.


Featured image from Andrew Kelly/Reuters/USA Today, chart from TradingView

News Feed

Bitcoin Cash-Fueled Onchain Social Media Platform Memo Launches iOS App
Bitcoin Cash-Fueled Onchain Social Media Platform Memo Launches iOS App Two years ago, an onchain social network called memo.cash was launched and the applicatio
Bitcoin Rebounds Above $97K Ahead Of CPI Release – What To Expect
Este artículo también está disponible en español. Bitcoin has kicked off the week with notable volatility, showcasing the market’s unpredictability. After a sharp 6
FTX and Entertainment Giant Dolphin to Launch NFT Marketplace
FTX and Entertainment Giant Dolphin to Launch NFT Marketplace On August 2, West Realm Shire Services Inc., the owner and operator of FTX.US, revealed the company
3,500 ‘Sleeping Bitcoins’ From 2011 Worth Over $60 Million Wake up After 11 Years of Slumber
3,500 "Sleeping Bitcoins" From 2011 Worth Over $60 Million Wake up After 11 Years of Slumber On Nov. 11, amid the confusion concerning troubled crypto companies like FTX and Blockf
This Week’s NFT Sales Dropped by 13%, Ronin Markets Rebound, Clonex Climbs Higher
This Week"s NFT Sales Dropped by 13%, Ronin Markets Rebound, Clonex Climbs Higher Non-fungible token (NFT) sales have been lackluster this past week, as the aggregate sales volume
DC Attorney General Sues Billionaire Michael Saylor and Microstrategy Over Alleged Tax Fraud — Seeks $100 Million
DC Attorney General Sues Billionaire Michael Saylor and Microstrategy Over Alleged Tax Fraud — Seeks $100 Million The attorney general of the District of Columbia has sued Micros
‘SEC Will Stop at Nothing to Control Entire Crypto Space,’ Says Former Federal Prosecutor
"SEC Will Stop at Nothing to Control Entire Crypto Space," Says Former Federal Prosecutor A former federal prosecutor says that the U.S. Securities and Exchange Commission (SEC) &#
Cannabis Dealer Forfeits $3 Million in Bitcoin — 6,000 More BTC Still Missing
Cannabis Dealer Forfeits $3 Million in Bitcoin — 6,000 More BTC Still Missing A cannabis dealer has forfeited bitcoins worth about $3 million after they were s
Bitcoin Going Industrial: New York-Based Natural Gas Provider Sells Fully Compliant ‘Hashpower Contract’
Bitcoin Going Industrial: New York-Based Natural Gas Provider Sells Fully Compliant "Hashpower Contract"During the first week of March, news.Bitcoin.com reported on a $65 million in
Bitcoin, Ethereum Technical Analysis: BTC Moves Above $28,500 as ETH Nears $2,000
Bitcoin, Ethereum Technical Analysis: BTC Moves Above $28,500 as ETH Nears $2,000 Bitcoin broke out of a resistance level of $28,500 on April 5, as crypto markets continued to reac
Bitcoin Core dev receives grant for maintaining BIP repository
Ezra Reguerra11 hours agoBitcoin Core dev receives grant for maintaining BIP repositoryDeveloper Jon Atack believes that Bitcoin plays a role in human freedom, decentralization of power, privacy and self-sovereignty. 17
JPMorgan Admits Fraud, Agrees to Billion Dollar Settlement for Illegal Trading
JPMorgan Admits Fraud, Agrees to Billion Dollar Settlement for Illegal TradingJPMorgan Chase has admitted to fraud charges and agreed to settle with the U.S. Department of Justice,