Cardi B’s latest publish in regards to the meme token Moist A*s P*ssy (WAP) changed into a dramatic market shakeup. Inside minutes, WAP’s market cap plunged from $2 million to only $150,000. The token’s worth shot as much as $0.0020 briefly, then tumbled over 90% again to $0.00019, wiping away virtually all of this week’s beneficial properties.
Movie star Tweet Sparks Chaos
Based on studies, Cardi B shared a pockets deal with on her official X account with the caption “even wetter than final time.” That single message despatched ripples by the crypto world. Costs leaped, then crashed. Market watchers have been left scratching their heads as billions of {dollars} in worth appeared to fade in mere moments.
Suspicious Pockets Exercise
Blockchain trackers noticed one thing odd. A handful of wallets purchased huge chunks of WAP simply 5 days earlier than the tweet. They offloaded their tokens virtually instantly after Cardi B’s publish, banking roughly 10 instances their authentic stake.
So at this time, @iamcardib remembered that she nonetheless held a big portion of the $WAP provide and determined to run one other pump and dump.
The token went from 2.5M to 139k a few minutes after the tweet
The dump was triggered by some wallets that purchased the token round 5 days… pic.twitter.com/7Nwr27rcZA
— dethective (@dethective) June 3, 2025
These sudden sells helped push the token’s worth again all the way down to round $0.00019. Based mostly on studies, this sample appears to be like like a basic pump-and-dump. It raises questions on whether or not insiders deliberate your entire transfer.
POV you may owe hundreds of thousands pic.twitter.com/j9FGLgoSBM
— ZachXBT (@zachxbt) June 4, 2025
Historical past Of WAP Controversies
This isn’t the primary time WAP brought about hassle. Again in October 2024, Cardi B gave it a shout-out, and safety agency PeckShield flagged the token for attainable malicious deeds.
That earlier buzz even led to an investigation by the UAE’s Securities and Commodities Authority after buyers raised alarms over fraud and market manipulation. Many within the crypto group thought everybody would steer clear this time. As a substitute, the previous slipped from reminiscence, resulting in heavy losses once more.
Buyers Left Holding The Bag
Within the final 24 hours, WAP’s worth dropped one other 80%. Now it trades close to the identical ranges it was on the finish of Could. On a regular basis merchants who jumped on the hype discovered themselves observing pink numbers.
Based mostly on studies, some wallets walked away with tenfold returns in minutes. In the meantime, others ended up with almost nugatory tokens. The pace of this rise-and-fall serves as a harsh reminder: in case you purchase a token proper because it peaks, you could be caught when the subsequent crash hits.
Cardi B’s follow-up publish clarified that her account was not hacked, promising extra from “$WAP house” quickly. But this rationalization did little to calm nerves. Critics say it’s arduous to separate the artist’s real curiosity from a deliberate advertising push. Some level out that even when she didn’t straight profit, her endorsement gave insiders precisely the highlight they wanted to unload their shares.
Featured picture from Andrew Kelly/Reuters/USA As we speak, chart from TradingView
