Digital community on Crypto Twitter gathers support for an artist following the collapse of his meme coin venture
In a surprising turn of events, the FWOG meme coin, once the talk of the town due to its impressive artwork and influencer support, has undergone a dramatic transformation. The coin, originally launched on the Solana-based meme coin platform Pump.fun, was the brainchild of several anonymous creators, including the artist known as Titto.
The story begins with Cole Thereum, the former CEO and founder of Pudgy Penguins, making a significant investment in FWOG tokens and promoting them on Twitter. This move added to the hype surrounding the coin, which initially saw a market cap of over $15 million on Solana-based automated market maker Raydium.
However, in the chaos of the launch, a disastrous miscommunication took place between two core team members, Breezy and Pyro. The nature of the misunderstanding has not been fully disclosed, but it led to a significant portion of the FWOG team dumping their holdings, causing the market cap to crash by 91%.
In the aftermath, FWOG's market cap started to tank and dropped below $1 million. This unfortunate event left Titto, the artist behind FLOG, in the dirt. However, Titto later joined the effort to relaunch the project, finding support from the community who believed he had been screwed over by the meme coin system.
The relaunch of FWOG was not an easy task, but the community rallied behind the artist, led by pseudonymous crypto traders Anon and Bag of Bread, who claimed to have been paid 3 million FLOG tokens to promote the project on their social media accounts. Over hours, FWOG's market cap began to recover, touching a $25 million market cap within six hours of the relaunch.
Pyro, another member of the FLOG core team, acknowledged the misunderstanding and did not blame Breezy. Breezy, in turn, maintained that the misunderstanding was due to a miscommunication about selling a small amount of tokens, not the entire stash.
The success of the FWOG relaunch can be attributed to the community's unwavering support for an artist they believed had been wronged. Titto expressed his gratitude for the community's support, and the FWOG project continues to thrive, outshining the original meme coin in the process.
Meanwhile, Minh Dynasty, CTO for the Billy meme coin project, called for support for Titto on Twitter, adding more fuel to the FWOG fire. Despite the initial setbacks, the FWOG story serves as a testament to the power of a community coming together to support its own.
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