The Kanpai Pandas NFT assortment worth fell by 37.44% in 24 hours and by 40.13% during the last seven days. Based on information from the NFT market Blur, the value dropped from 0.775 ETH on August 8 to a low of 0.42 ETH on August 9, marking a forty five% lower.
The Kanpai Pandas NFT assortment worth at the moment stands at 0.46 ETH, valued at $1,220. The current worth lower follows allegations that the creators promoted Restore the Republic (RTR), a token themed round Donald Trump, which the Trump household subsequently disavowed.
Supply: Blur
The neighborhood blamed the Ice Bagz CEO and his group for the lower within the worth of the gathering. They allegedly promoted the RTR token, which was purported to be an “official” Trump token. Nevertheless, Donald Trump’s son, Eric Trump, has strongly denied any connection of the token to the Trump household.
Kanpai Pandas group faces criticism
The lately launched token on Solana (SOL), named Restore the Republic, surged to a $155 million market worth earlier than plummeting by 95% on Thursday following a warning from the son of former President Donald Trump, indicating that his father doesn’t possess an official token.
This led to the neighborhood focusing on members of Kanpai Pandas who had beforehand promoted the token on X earlier than Trump made any official statements.
complete kanpai cabal (@bagzybagz1321, @SizeChad, @RookieXBT, @buyerofponzi) deceptive followers into the “official” trump coin $rtr after they launched it
thought bagz was one of many good ones? https://t.co/0YgW1c4M1k pic.twitter.com/HMY0TMKQXg
— Legacy (@LegacyApe) August 8, 2024
An X consumer named “Legacy Ape” shared screenshots exhibiting members of Kanpai Pandas group selling the token on X. Conversely, one other neighborhood member shared a screenshot suggesting that Kanpai Labs was behind the token’s Google advertisements.
Earlier within the week, Ryan Fournier, a conservative advocate and scholar chief of College students for Trump, unfold the phrase, claiming that “rumor has it that the official Trump coin is out…known as Restore the Republic.” Nevertheless, that tweet on X has since been eliminated.
Screenshot of a tweet by Ryan Fournier (X)
Ice Bagz responds amid rising controversy
After the Trump household denied their involvement with RTR, Ice Bagz, the founding father of Kanpai Pandas, posted a obscure reply to Donald Trump Jr.’s put up on X, thanking those that “despatched love” throughout the controversy. Based on Kanpai’s creator, the Trump household picked the launch date after which “onerous rugged them.”
DJT Coin’s present market cap (Supply: DexScreener)
There was one other incident final week involving one other Trump-themed token. TrumpCon (DJT) made headlines when Martin Shkreli, an American investor, claimed that he and Donald Trump’s son Barron had established the token. Nevertheless the token misplaced 90% of its worth when a big holder dumped their tokens.
