Kanye West Meme Coin Plummets 81% After Rapper Claims Instagram Hacked for Scam

A meme-based cryptocurrency associated with Kanye West has experienced a significant decline, plummeting as much as 81% from its previous peak. This downturn follows the rapper’s assertion that his Instagram account was compromised, allegedly for the purpose of scams and fraudulent activities. This announcement has triggered widespread concern among investors in the digital currency, leading to substantial sell-offs and contributing to the significant drop in its value. Uncertainty persists surrounding the circumstances of the alleged hacking and its potential impact on Kanye West’s reputation and his future involvement in the world of cryptocurrencies.