Meme Coin Airdrops $10,000 Tokens to Crypto Influencers – Most of Which Sell Immediately

A Solana Meme Coin Dev has created a token on Pumping.Fun and distributed 20% of the supply via airdrop to 10 crypto Twitter influencers. However, within a few days, most influencers deleted the messages they had received.

The project described itself as the “largest social experiment on Solana” and distributed CABAL tokens worth around $10,000 via airdrop to well-known personalities in the scene.

The term cabal refers to a secret political group and is commonly used in the crypto world to refer to insiders who work together to promote certain tokens. By sending a lot of tokens to influencers, the project said it was trying to force a cabal around itself – and the influencers would feel motivated to promote the project to their followers.

But that didn’t happen. Instead, most recipients sold the tokens, and just two days after the launch, only three influencers remained – one of them sold And bought back at a cheaper price.

The first group of influencers included Dogwifhat supporters AnsemMeme Coin Influencer YenniAnd beaverthe person who said he paid ‘Crack Head Developer‘ to fake his own death. Some influencers have publicly admitted that they received the tokens And I unloaded them to the project, while others claim that the developer sent the money to the wrong wallet.

“These idiots dropped a guy and he got it lol,” said one of the influencers. Yellotold Decrypt“Honestly, I would have sold anyway. I don’t know why they would give someone $10,000 without them selling. Nobody agreed to anything and it’s free money.”

Yelo claims to change his wallet every three days, making it “pretty impossible” for people to know what they are trading. The influencer thinks the project is “stupid” and it “just stirs up hatred against people” as distrust of Crypto Twitter grows. The creator of CABAL admitted, Decrypt that you probably have the wrong address for Yelo.

Beaver, meanwhile, admits that he received the funds, sold them immediately, and began to discredit the project in order to get another member of the “cabal” to sell.

“I didn’t care who it was, but in the end it was Yenni,” said Beaver Decrypt via Twitter direct messages. “After he sold, I bought it all back and started pushing it.” To push the project forward, he sold another $2,000 and said he then spent the money pushing the project via DEX screener ads while slowly selling off his remaining tokens.

“Fun experiment,” Beaver added.

Now with only the apparent wallets of Ansem, JojiAnd Meechie still holding the token, the cabal is slowly disintegrating. The token reached a market capitalization of $848,000, according to DEX Screenerbut has fallen to $164,000.

But the inventor of CABAL believes that this is just the beginning.

“Some of the dumpings were pretty funny,” CABAL inventor MaxDoesCrypto told Decrypt“(The) future lies in building our own cabal: the community.”