Caitlyn Jenner’s recently launched Solana meme coin has dived 66% in price over the past 24 hours after the former Olympian announced a new token on Ethereum—this time with the goal of donating a share of fees to support Donald Trump’s presidential campaign efforts.Earlier this week, media personality Jenner announced her Solana meme coin JENNER, with many crypto observers initially assuming that her account had been hacked. But that wasn’t the case, and she was actually behind the project in tandem with crypto promoter JENNER spiked in value and led to a growing wave of celebrity-backed meme coins, including from rapper Iggy Azalea and musician Davido, but Jenner’s own token took a dive on Wednesday after she tried to expand upon that initial success.Late Wednesday, the decathlon gold medal winner launched a new version of the JENNER token on Ethereum, but with some tweaks to the formula. Investors apparently didn’t like this move, with the Solana token’s price dropping 58% in the two hours that followed the announcement, and now 66% over the past 24 hours.$Jenner on $ETHNO team tokens. NO Dev tokens. NO founder tokens. Official contract address here: 0x482702745260Ffd69FC19943f70cFFE2caCd70e9 pic.twitter.com/fwXW4Cb2gS— Caitlyn Jenner (@Caitlyn_Jenner) May 30, 2024Arora, who has since launched An hour later, Jenner took to Twitter Spaces to announce that her new coin has a 3% tax applied to all transactions which, once a When $Jenner on $ETH hits $50m market cap we will donate to @realDonaldTrump from the tax revenues! We have to protect crypto! It’s ULTRA MAGA!— Caitlyn Jenner (@Caitlyn_Jenner) May 30, 2024Her previous Solana token peaked at a $42 million market cap, according to Jenner has also slowed down tweeting since the heyday of her Pump.fun token. And when she does post, she’s often met with criticism and abuse, now that the Solana version of JENNER has plunged 81% since its Tuesday peak.”Give Solana the love back!” one Twitter user Edited by Andrew Hayward
