Cardi B’s current submit concerning the meme token Moist A*s P*ssy (WAP) was a dramatic market shakeup. Inside minutes, WAP’s market cap plunged from $2 million to simply $150,000. The token’s worth shot as much as $0.0020 briefly, then tumbled over 90% again to $0.00019, wiping away virtually all of this week’s good points.
Superstar Tweet Sparks Chaos
Based on stories, Cardi B shared a pockets handle on her official X account with the caption “even wetter than final time.” That single message despatched ripples via the crypto world. Costs leaped, then crashed. Market watchers have been left scratching their heads as billions of {dollars} in worth appeared to fade in mere moments.
Suspicious Pockets Exercise
Blockchain trackers noticed one thing odd. A handful of wallets purchased large chunks of WAP simply 5 days earlier than the tweet. They offloaded their tokens virtually instantly after Cardi B’s submit, banking roughly 10 instances their authentic stake.
So right this moment, @iamcardib remembered that she nonetheless held a big portion of the $WAP provide and determined to run one other pump and dump.
The token went from 2.5M to 139k a few minutes after the tweet
The dump was triggered by some wallets that purchased the token round 5 days… pic.twitter.com/7Nwr27rcZA
— dethective (@dethective) June 3, 2025
These sudden sells helped push the token’s worth again all the way down to round $0.00019. Based mostly on stories, this sample appears like a traditional pump-and-dump. It raises questions on whether or not insiders deliberate all the transfer.
POV you may owe thousands and thousands pic.twitter.com/j9FGLgoSBM
— ZachXBT (@zachxbt) June 4, 2025
Historical past Of WAP Controversies
This isn’t the primary time WAP precipitated hassle. Again in October 2024, Cardi B gave it a shout-out, and safety agency PeckShield flagged the token for doable malicious deeds.
That earlier buzz even led to an investigation by the UAE’s Securities and Commodities Authority after traders raised alarms over fraud and market manipulation. Many within the crypto group thought everybody would steer clear this time. As a substitute, the previous slipped from reminiscence, resulting in heavy losses over again.
Traders Left Holding The Bag
Within the final 24 hours, WAP’s worth dropped one other 80%. Now it trades close to the identical ranges it was on the finish of Could. On a regular basis merchants who jumped on the hype discovered themselves looking at pink numbers.
Based mostly on stories, some wallets walked away with tenfold returns in minutes. In the meantime, others ended up with almost nugatory tokens. The pace of this rise-and-fall serves as a harsh reminder: in case you purchase a token proper because it peaks, you could be caught when the subsequent crash hits.
Cardi B’s follow-up submit clarified that her account was not hacked, promising extra from “$WAP area” quickly. But this clarification did little to calm nerves. Critics say it’s onerous to separate the artist’s real curiosity from a deliberate advertising push. Some level out that even when she didn’t immediately profit, her endorsement gave insiders precisely the highlight they wanted to unload their shares.
Featured picture from Andrew Kelly/Reuters/USA At this time, chart from TradingView
