$JAILSTOOL Speedpass Review: A celebrity's tweet, skyrocketed to $1.5 billion Market Cap in 3 hours

Author: Deebs Decentralized Finance

Compilation: DeepTech TechFlow

This is Dave Portnoy.

The millionaire tycoon once pushed the market value of a Meme coin to 150 million dollars within just 3 hours.

But who is @stoolpresidente? Is he a hero or a fraudster?

Here is his complete story.

Dave Portnoy, nicknamed "Mr. President El Presidente", is an American entrepreneur known for founding Barstool Sports.

Barstool Sports started as a small sports newspaper distributed by him on the subway, but later developed into a multimillion-dollar business empire.

However, Barstool is not the only reason for Dave's fame.

Dave is still a well-known internet celebrity.

He has attracted attention in the United States for his sharp pizza reviews and crazy sports betting.

Therefore, it is not surprising that Dave is involved in another exciting field, which is the cryptocurrency that is known as the 'most exciting casino in the world'.

Dave's cryptocurrency journey began with the revelation that he might launch a token.

However, he said he still needs to learn more.

He hopes to ensure that any token he launches is safe and fair.

However, what happened next was unexpected by everyone...

Dave started buying some tokens on Solana and shared these actions on Twitter.

He quickly discovered the money-making potential of cryptocurrencies—within minutes, he turned $10,000 into $75,000.

He also candidly told everyone that he would sell these tokens.

But this behavior has sparked dissatisfaction in the crypto community.

Many people directly accuse Dave of being a scammer, including @coffeebreak_YT.

It seems that the entire crypto community is condemning Dave.

But Dave decided to surprise again.

On February 8th, 20:41 (UTC), Dave bought a new token worth $200, called #JAILSTOOL.

Like the tokens bought before, this is not a token issued by himself.

So, at first, no one paid attention.

However, Dave started tweeting again.

He finds this token very interesting and tells investors that he will not sell it in the near future.

As a result, the price skyrocketed.

However, not everyone believes Dave's words. The creator and largest holder of #JAILSTOOL are skeptical of this.

A few hours after Dave tweeted, the creator of #JAILSTOOL sold 20 million tokens and cashed out $50,000.

(This also cost him potential earnings of over 2 million dollars.)

However, Dave did not choose to sell his position, but instead added to his holdings by buying tokens worth $200,000.

What happened next can be imagined.

#JAILSTOOL's price has experienced a crazy surge.

In just 3 hours, the market value of JAILSTOOL soared to 1.5 billion dollars.

Now, its market value has exceeded 200 million dollars, and there is no sign of its momentum weakening.

But the question is: what will happen next? Is this Token safe and reliable? Does it have more room for growth?

Regarding security: From the current supply situation, the distribution of JAILSTOOL is still relatively healthy.

There are many holders of currency, and there are no obvious signs of insider trading.

However, I need to remind everyone that one holder controls nearly 8% of the total supply.

This wallet and Dave himself may be sold at any time.

But do I think Dave will sell immediately?

Not likely in the short term. (Not financial advice)

Why do we say this? Because Dave has tied his cryptocurrency reputation to this token. He certainly wants to see how high this coin can rise.

You can take a look at his tweets.

If you know Dave's pizza reviews, you will know that he is an extremely proud person.

In my opinion, the pride and sense of achievement of being able to control a top Meme coin is far more important to him than millions of dollars.

So, how is the upward potential of this Token?

I want to make it clear: this completely depends on Dave's decision.

Although he didn't initially intend for this token to become his "official currency," there are many reasons that might change his mind:

The legal risk is minimal. (After all, he is not the creator of this Token)

He has a certain degree of control over the supply.

His fans have already made a lot of money from it.

If he sells now, it will only damage his constantly growing reputation in the crypto community.

If Dave eventually accepts this Token as his "official currency", it is not impossible for the market value to reach 1 billion US dollars.

We have also seen successful cases of celebrity Meme coins in the past. (Not financial advice)