Celebrity memecoin promoter Sahil Arora (@Habibi_Comm) was banned from the social media platform X after being accused by many, including Caitlyn Jenner and Iggy Azalea, of perpetrating “pump and dump” schemes amid the recent rise in celebrity-themed memecoins.

“He scammed us! BIG TIME!” Jenner wrote on X. The scam allegedly involved Arora acting as a middleman and launching the token on behalf of Jenner, having Jenner promote it, and then dumping tokens in his possession to withdraw liquidity, sending the price tumbling, which is a common risk in the memecoin market.

The token, JENNER, rose dramatically within 24 hours to reach a market cap of $43 million but fell sharply. As of publication time, the token had a market cap of around $5 million, according to data from Dexscreener.

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