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Amid the cryptocurrency craze, a young Californian turns a joke into profit and reignites debate about ethics in the memecoin market.
In the cryptocurrency universe, where everything can change in a matter of minutes, a Californian teenager has proven that even a prank can yield a real jackpot. In a single night, he developed three memecoins, lighter and more irreverent variations of these digital currencies, and pocketed more than US$50, arousing curiosity, admiration and controversy.
The story began when the boy launched Gen Z Quant, a new cryptocurrency created and disseminated through the Pump.Fun platform, a service that facilitates the creation and trading of memecoins quickly and at low cost. At around 19:48 p.m. local time, he made 1 billion units of Gen Z Quant available and bought about 51 million of them for $350. He then went live on the air, attracting attention and viewers interested in the explosive potential of this “joke coin.”
Cryptocurrencies created overnight generated 50 thousand dollars, more than 300 thousand reais converted to our currency
The result was a dizzying price increase in just a few minutes. About eight minutes later, the teenager sold his holdings, securing a profit of approximately US$30. But the “masterstroke” didn’t stop there: later that night, he launched two more memecoins, “im sorry” and “my dog lucy”, repeating the strategy and accumulating more than US$50 in a matter of hours.
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The stunt, however, did not go unnoticed. Many considered the action an example of a “soft rug pull,” when a cryptocurrency creator boosts the value of the coin, quickly sells everything and leaves investors empty-handed. While not explicitly illegal, the practice is seen as unethical, causing outrage and indignation. The teenager and his family received threats, had their personal data exposed, and their social media accounts hacked. In an ironic twist, the total theoretical value of the Gen Z Quant reached $72 million, inflated by aggressive buying by angry traders.
memecoins
The popularity of these memecoins, which have been around since 2013 when Dogecoin came into the spotlight, has grown in tandem with platforms like Pump.Fun, which has facilitated the creation of millions of new “fun coins” and generated more than $250 million in revenue. This ease, however, has also opened the door to scams and manipulation, raising awareness about the lack of regulation in the cryptocurrency market.
Despite the threats, the young man returned to Pump.Fun two weeks later, creating five more memecoins and securing an additional profit of US$5. According to the boy's father, the episode reflects the new generation's unique view of the digital world: for them, everything seems like a big game, with immediate results and direct consequences in their pockets.
As the discussions on rules and oversight As the world progresses, stories like this highlight both the opportunities and the dangers of the emerging cryptocurrency market. Ultimately, this teenager’s saga reminds everyone that when betting on memecoins, caution is needed: what starts out as a meme can turn into a huge success, or a disaster, in a matter of minutes.
