Late Wednesday evening, the official UFC Instagram account seemingly announced a new coin on Solana complete with certificate authority (CA). As you can imagine, this threw fans and crypto enthusiasts alike into a frenzy wondering if the coin was a real or a fake.
While some people still believe it may be an official coin as part of some genius marketing scheme, the vast majority of CT (Crypto Twitter) believes otherwise, and rightfully so seeing as how the IG post has since been deleted.
But, that’s the thing with meme coins. Real or fake, serious or funny, they can still pump. Why else would anyone have initially bought into Fartcoin, or more recently, $HUGO The Pooing Dog?
After leaving the IG post up for what some are saying was up to two hours, many aped into the coin and ultimately got rekt.
A Community Takeover
With little to no hesitation, the crypto community has taken matters into their own (diamond) hands. Not only have they rallied around the coin, but they’ve also even organized a community takeover to weed out the scammers and turn this unfortunate event into one that can serve those who a UFC coin should have been created for in the first place: UFC fans.
With over $51M in volume and nearly 9K holders, the $UFC coin packs a punch. And, those who recognize it as being a rug continue to buy in hopes of making things right.
What Happens Next?
At the time of this writing, UFC nor CEO Dana White has released a formal statement. Can’t blame them, it’s degen time, 3:52am EST January 30th to be exact. So, we’ll have to wait until morning.
Some are speculating that the unwanted hype around the ordeal will garnish publicity, albeit negative publicity, thus making holders even more bullish. Either way, they’re going to have to acknowledge what happened and do their best to make it up to their fans.
Will the UFC team embrace the takeover and work with the crypto community or will they simply want nothing to do with it? Only time will tell how this story—and my bags—pan out.
