Kanpai Pandas NFTs floor price dives 45% after token endorsement scandal
The Kanpai Pandas NFT assortment value fell by 37.44% in 24 hours and by 40.13% during the last seven days. In keeping with knowledge from the NFT market Blur, the worth dropped from 0.775 ETH on August 8 to a low of 0.42 ETH on August 9, marking a forty five% lower.
The Kanpai Pandas NFT assortment value at present stands at 0.46 ETH, valued at $1,220. The current value lower follows allegations that the creators promoted Restore the Republic (RTR), a token themed round Donald Trump, which the Trump household subsequently disavowed.
Supply: Blur
The neighborhood blamed the Ice Bagz CEO and his group for the lower within the value of the gathering. They allegedly promoted the RTR token, which was imagined to be an “official” Trump token. Nevertheless, Donald Trump’s son, Eric Trump, has strongly denied any connection of the token to the Trump household.
Kanpai Pandas group faces criticism
The just lately launched token on Solana (SOL), named Restore the Republic, surged to a $155 million market worth earlier than plummeting by 95% on Thursday following a warning from the son of former President Donald Trump, indicating that his father doesn’t possess an official token.
This led to the neighborhood focusing on members of Kanpai Pandas who had beforehand promoted the token on X earlier than Trump made any official statements.
complete kanpai cabal (@bagzybagz1321, @SizeChad, @RookieXBT, @buyerofponzi) deceptive followers into the “official” trump coin $rtr once they launched it
thought bagz was one of many good ones? https://t.co/0YgW1c4M1k pic.twitter.com/HMY0TMKQXg
— Legacy (@LegacyApe) August 8, 2024
An X person named “Legacy Ape” shared screenshots displaying members of Kanpai Pandas group selling the token on X. Conversely, one other neighborhood member shared a screenshot suggesting that Kanpai Labs was behind the token’s Google adverts.
Earlier within the week, Ryan Fournier, a conservative advocate and scholar chief of College students for Trump, unfold the phrase, claiming that “rumor has it that the official Trump coin is out…known as Restore the Republic.” Nevertheless, that tweet on X has since been eliminated.
Screenshot of a tweet by Ryan Fournier (X)
Ice Bagz responds amid rising controversy
After the Trump household denied their involvement with RTR, Ice Bagz, the founding father of Kanpai Pandas, posted a imprecise reply to Donald Trump Jr.’s submit on X, thanking those that “despatched love” throughout the controversy. In keeping with Kanpai’s creator, the Trump household picked the launch date after which “arduous rugged them.”
DJT Coin’s present market cap (Supply: DexScreener)
There was one other incident final week involving one other Trump-themed token. TrumpCon (DJT) made headlines when Martin Shkreli, an American investor, claimed that he and Donald Trump’s son Barron had established the token. Nevertheless the token misplaced 90% of its worth when a big holder dumped their tokens.
