Jason Derulo crypto pumps 6,000%, but is JASON a scam?

• Jason Derulo’s celebrity memecoin JASON has rallied 6000% since its debut.
• However, the token has been flagged as a scam by Web3 investigator ZachXBT. 

Another celebrity memecoin saga has hit the market — Jason Derulo’s crypto token dubbed JASON. The American singer continued to promote his JASON coin despite scam calls earlier in the week. 

After launching on the 23rd of June, JASON pumped but dumped shortly amidst a flurry of selling that the American singer blamed on his co-creator and serial celebrity crypto scammer, Sahil Ahora. 

However, the singer disregarded the scam calls and termed them “mistakes” that weren’t to be repeated. Part of his statement read, 

“I made uneducated mistakes in the past that will never happen again. To all the loyal $JASON holders I want you to know that I am going to work on this every day until we beat all celebrity coins and break records.”

The renowned Web3 scam investigator ZachXBT

Jason Derulo’s crypto saga

Another point of contention was the singer’s doublespeak. The singer had reportedly vowed not to sell JASON to prop it up. Notably, Derulo claimed he wanted JASON to hit a $1 billion market cap. 

However, the blockchain analytics firm Bubblemaps

‘This address received tokens directly from Sahil’s and has already sold 161 SOL ($20k). Why is he promising never to sell on one wallet but selling with another?’

Additionally, the firm doubted whether Sahil Ahora tricked the singer and noted,

“Derulo’s actions don’t really match someone who got fooled.”

Bubblemaps claimed that Derulo seemed to “know” what he was doing. 

Based on ZachXBT and Bubblemaps’ claims, one can’t outrightly mark JASON or the singer as a scam.

As of press time, per Dex Screener, JASON was up 6,000%, with a market cap of $15 million. The celebrity memecoin had rallied +100% in the past 24 hours alone, indicating massive buying pressure.