Lately, I’ve been wondering how many crypto projects are seeing their value skyrocket simply because they pay influencers to talk about them. It feels like the line between genuine innovation and pure hype is getting blurrier every day.
Take memecoins, for instance—some of them are only gaining traction because big-name influencers are pushing them. Remember when certain influencers hyped tokens like Hawk Tuah Girl’s meme coin? It tanked almost immediately after launch. Or BitClout, which pre-loaded celebrity profiles to entice them to promote the platform—it’s an example of how influencer-driven marketing can blur the lines between organic growth and artificial buzz.
And it’s not just about memecoins. Some projects like Safemoon and Shiba Inu also rode massive waves of influencer-driven hype. Safemoon even partnered with several well-known YouTubers and TikTok creators, promising lucrative rewards for promotion. Similarly, Shiba Inu gained traction when Elon Musk’s tweets indirectly boosted its visibility, showing how much influence a well-timed mention can have on a token’s value.
Then there’s the world of new DeFi projects that flood Twitter and Instagram with paid endorsements. Lesser-known tokens are paying influencers to release “how-to” videos or post about “life-changing opportunities,” even though these coins have minimal technical merit or long-term viability. Some platforms even reward influencers with pre-launch tokens, allowing them to profit before regular investors even have a chance.
The question is, how sustainable is the value of a coin when it’s built on marketing instead of substance? It’s something I’m keeping a close eye on because chasing hype can lead to devastating losses. It’s worth thinking twice about which projects we put our trust in—especially when their success might just be a result of clever PR moves...