How Crypto Twitter Saved an Artist Being Dumped On By Their Devs

Flog the Frog (FLOG) was one of the crucial hyped meme coin launches of the yr on account of its spectacular paintings and influencer assist. However its core crew dumped on traders, crashing the market cap by 91% in only one minute. 

Thankfully for the undertaking, crypto customers on X, previously Twitter, have rallied behind the artist and made a brand new token, FWOG, which has now outshone the unique meme coin.

The chaos adopted every week of hype for FLOG, which launched on the Solana-based meme coin platform Pump.enjoyable.

It instantly headed over to Solana-based automated market maker Raydium, the place preliminary buying and selling surpassed a $15 million market cap earlier than settling at round $3.75 million.

Over the subsequent few hours, nevertheless, FLOG’s market cap began to tank beneath $1 million, and the builders behind the undertaking panicked.

Within the chaos, a disastrous miscommunication occurred between two core crew members, Breezy and Pyro.

“DUMP IT,” undertaking supervisor Breezy mentioned within the crew chat, which was later launched by the FLOG crew. “Okay,” FLOG developer Pyro replied. “Dunno like $60,000 price,” Breezy added. “Okay, so dumping or what?” Pyro requested. “Bro, sure, I mentioned promote,” Breezy confirmed.

Within the confusion, Pyro offered the complete core crew’s holdings, inflicting the token’s market cap to drop 91% from roughly $1.15 million to $105,000 in only one minute. 

“Bro, did you promote all of it? WTF occurred,” Breezy mentioned. “Sure, you mentioned dump my bro,” Pyro replied. “You’re a fucking fool,” Breezy clapped again.

Crypto Twitter customers with giant followings are also known as key opinion leaders, or KOLs, and lots of new initiatives pay these folks with tokens to ensure that them to shill the undertaking. FLOG was in a position to obtain monumental hype via this tactic, Decrypt discovered.

Pseudonymous crypto merchants Anon and Bag of Bread declare to have been paid 3 million FLOG tokens to advertise the undertaking on their social media accounts. Anon claims “dozens” of different meme coin influencers had been additionally concerned.

“My preliminary response was not what I had missed by not promoting, however frustration and regret for sharing this with my name channel and different teams,” Anon instructed Decrypt through Telegram. “I put out a reasonably susceptible assertion admitting, sure, I used to be a KOL, no, I by no means offered the three million tokens I used to be given, however I nonetheless really feel an ethical obligation to come back ahead and expose Breezy and the developer.”

Folks had been definitely mad that their holdings had been gutted. However they had been additionally upset as a result of the meme coin artist behind the artwork for FLOG, Titto (also referred to as Groowut on Twitter), had been left within the dust. 

“Dude, I fucking nearly cried,” Titto instructed Decrypt. “I labored 18-hour days for the previous few weeks (all unpaid) to get issues finished, and when that occurred, my coronary heart stopped.”

Anon and one other Crypto Twitter influencer, Deecayz, offended at what had occurred, got here up with a plan to relaunch the undertaking. They introduced Chernggg, a KOL organizer, onboard with them. Deecayz then reached out to Titto.

“I felt there was nothing to lose, I wished to do what’s proper by me to assist out,” Titto defined, “I gave all of the artwork and fell asleep.”

This was when Fwog (FWOG) was born and launched on Pump.enjoyable. Different Crypto Twitter influencers, together with Bag of Bread and Cole Thereum—the previous CEO and founding father of Pudgy Penguins—acquired on board.

“I’m not often keen to danger my status on a meme coin, so I hardly onerous shill one thing like this,” Cole Thereum instructed Decrypt. “However after I came upon this proficient artist was getting screwed, I made a decision to become involved, so I purchased a ton of tokens to assist and shared this [community takeover] on Twitter.”

The relaunch was a hit. Almost everybody shilling the undertaking circled again to assist an artist screwed over by the meme coin system.

“Please go give [Titto] a observe,” pseudonymous dealer Minh Dynasty, CTO for the Billy meme coin undertaking, posted on Twitter. “Thanks for these items, among the greatest memetic artwork I’ve seen in a very long time.”

Six hours after launch, FWOG touched a $25 million market cap because the neighborhood continued to rally behind the artist. In the meantime, FLOG peaked round a market cap of round $900,000 however has since fallen to $96,000. 

“Woke as much as tens of millions of DMs. Checked DEX Screener and I couldn’t imagine it,” Titto instructed Decrypt. “Nobody usually offers a fuck about any artists, they simply assume its the crew. I’m very grateful for this, cannot be extra pleased.”