Cardi B Promotes WAP Memecoin—Price Crashes 80% in One Day!

Grammy-winning rapper Cardi B has ignited controversy by promoting the WAP memecoin, a cat-themed cryptocurrency linked to her hit song. The token's value plummeted 80% within hours of her endorsement, reigniting concerns about celebrity-backed crypto schemes.

Blockchain analysts identified the wallet address shared by Cardi B as previously associated with suspicious activity. This marks the second time the artist has promoted $WAP, despite warnings from security experts in October 2024 about potential scam risks.

The incident highlights ongoing challenges in the memecoin market, where celebrity endorsements frequently precede dramatic price swings. Recent months have seen similar promotions from high-profile figures including Donald TRUMP and Elon Musk, with varying degrees of legitimacy.