As an analyst with over two decades of experience in finance and technology, I find myself astonished yet again by the unpredictable and often bizarre world of cryptocurrencies. This latest saga involving a 13-year-old prodigy and his dog Bari is a perfect example of why this space can be both exhilarating and utterly confounding.
In an unexpected sequence of events, a 13-year-old cryptocurrency developer, who’s been involved in numerous ‘rug pull’ incidents, is reported to have had his pet dog, Bari, taken by an upset investor. This incident has ignited public anger, unusual requests, and even the creation of a new meme coin called $BARI.
The events leading to this controversy can be traced back to November 20th, when a young developer introduced the Gen Z Quant (QUANT) token on the Pump.fun site. In just minutes, the token skyrocketed by 260%, but surprisingly, the creator quickly cashed out all his shares, causing the price to plummet and earning him $30,000. Furious investors began accusing him of masterminding a rug pull. To make matters worse, he then launched two more tokens, LUCY and SORRY, repeating the scam and pocketing an additional $24,000. This has led to allegations that he orchestrated a series of scams.
As the boy made fun of his targets on the internet, the community’s frustration intensified, resulting in doxxing incidents where his family’s personal information was revealed.
On X, news surfaced about the alleged abduction of Bari, with a person remaining anonymous confessing to the theft. This individual claimed responsibility for taking Bari and made demands: a public apology and monetary compensation. They justified their actions by stating that the theft was in response to incidents involving rug pulls.
The person initiated the $BARI token, using the image of a stolen dog as its symbol, stating, “I aim to help those who have lost get their money back here.” They pressured the youngster to buy $5,000 worth of $BARI and create an apology video. Until this was done, they asserted that Bari would remain in their possession.
Remarkably, the value of the BARI token skyrocketed by more than 300% in just hours after its release, peaking at a market capitalization of $800,000 before settling at $309,000. Conversely, the QUANT token experienced a steep decline of 61%, causing its market cap to drop from $81 million down to $19 million.
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2024-11-22 12:20