Most memecoins endorsed by Andrew Tate have lost 99% of their value, raising concerns of insider trading. Tate endorsed over 10 tokens on June 7, all known for having no intrinsic value. Recent analysis shows these tokens largely crashed following his promotion. One crypto trader did profit significantly from the Nomogram (GNON) token, achieving a 3,000-fold return. Notably, the Roost (ROOST) token, promoted by Tate, plummeted over 90% after it was hacked. In light of these events, Tate claimed to have the ability to manipulate crypto prices, raising further eyebrows. Many other celebrity-backed tokens have seen similar declines, with allegations of insider trading surfacing against various celebrities. Recent data reveals that half of the celebrity memecoins are down over 99% within just a month of launch, contributing to an erosion of trust in the cryptocurrency space.

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