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Home»ALTCOIN NEWS»Solana-based Mimecoin Reglion Explodes Amid Rug Pull Allegations
ALTCOIN NEWS

Solana-based Mimecoin Reglion Explodes Amid Rug Pull Allegations

By Crypto FlexsSeptember 18, 20243 Mins Read
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Solana-based Mimecoin Reglion Explodes Amid Rug Pull Allegations
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  • The smoked chicken fish church is in chaos.
  • Pastor aspirant accused of rug-pulling.
  • Solana Memecoin is in the spotlight over alleged fraud.

In a world where thousands of Solana Mimecoins are released every day, projects are doing everything they can to get noticed. This one reached absurd levels with a single token, the Smoking Chicken Fish Church. The project evolved from a Mimecoin to a potential church with a pastor and plans to build an actual place of worship.

This absurd religion is now facing controversy and infighting, with members of the “congregation” accusing the leader of enriching himself at the expense of others and sabotaging the project.

Smoking Chicken Fish Church Pastor Expelled

The Smoking Chicken Fish Church (SCF), a satirical meme coin project turned church, is currently in turmoil. Its leader, Pastor Kelby, is facing accusations that he is enriching himself at the expense of the community and is organizing a rug-pulling operation.

Kelby, who was not an original member of the Smoked Chicken Fish Church, took on a leadership role. He gave daily Twitter sermons to followers under the name of the church’s humorous new god, “Lord Fishnu.” At its peak, SCF had a market cap of $130 million, and the team even made plans to build a physical church in Texas.

I want to make sure I understand this…

Mimecoin for smoked chicken fish

Become a church

By joining you will be “brothered”

Their pastor was a paid worker.

The pastor then took this as a personal attack.

The coin has been re-launched.

Pumped to 2…

— Easy (@EasyEatsBodega) September 16, 2024

The controversy started when Kelby used his account to promote another mimecoin, BigTittyChicken (BTC). Kelby, who does not own any SCF tokens, claimed that the BTC mimecoin would be a “sister project.” However, the BTC team dumped the tokens shortly after launch, causing the price to plummet.

Here is a chart showing the BigTittyChicken (BTC) price crash.
Source: Coinranking

The losses suffered by regular holders have caused turmoil in the Smoking Chicken Fish Church community, whose members have ousted Kirby, accusing him of personally taking money while promoting the BigTittyChicken meme coin, which has since gone from strength to strength.

Solana Memecoin Faces Continued Controversy

Church of Smoking Chicken Fish (SCF) is just one of many Solana-based memecoins that have faced controversy. As easy as it is to launch a token on Solana, it invites both inexperienced and unscrupulous individuals.

In particular, the Solana-based Pump.fun platform allows anyone to launch a Mimecoin with minimal effort. As a result, politicians, celebrities, niche influencers, and scammers are all launching their own Solana Mimecoins.

The performance of these tokens is not very good. For example, in July, all recently launched celebrity meme coins fell significantly, with an average loss of 94%.

On the other side

  • Memecoin exposure is starting The Dangers of Solana. As the popularity of Mimecoin declines, Solana’s indicators are also falling.
  • TRON recently joined SunPump, a mimecoin trend with its own platform similar to Pump.fun.

Why this matters

The Smoking Chicken Fish Church incident highlights a broader problem with Mimecoin: the accessibility of Mimecoin launches often attracts some players who do not have the qualities necessary to run a successful project.

Read more about another ridiculous Solana memecoin story:
Disastrous Memecoin Stunt Puts Solana Developer in Hospital

Learn more about the latest news in Virtual Reality and Web3.
XYO and Upland Unite Real and Virtual Worlds on Web3

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