Another celebrity memecoin saga has hit the market -- Jason Derulo's crypto token dubbed JASON. The American singer continued to promote his JASON coin despite scam calls earlier in the week.

The Launch and Initial Turmoil

After launching on June 23rd, JASON was pumped but dumped shortly after a flurry of selling. The American singer blamed this on his co-creator and serial celebrity crypto scammer, Sahil Ahora. Despite the initial turmoil, Derulo remained optimistic.

Derulo's Response to Scam Calls

Derulo disregarded the scam calls and termed them "mistakes" that wouldn't be repeated. Part of his statement read, "I made uneducated mistakes in the past that will never happen again. To all the loyal $JASON holders, I want you to know that I will work on this daily until we beat all celebrity coins and break records."

ZachXBT's Investigation

The renowned Web3 scam investigator, ZachXBT, flagged the singer for several "scam" crypto projects in the past year. This raised eyebrows, especially considering the singer's doublespeak. Derulo had reportedly vowed not to sell JASON to prop it up. He claimed he wanted JASON to hit a $1 billion market cap.

A significant point of contention was the blockchain analytics firm Bubblemaps noting that one of the wallets linked to JASON was selling after receiving them from Sahil.

'This address received tokens directly from Sahil's and sold 161 SOL ($20k). Why is he promising never to sell on one wallet but with another?' Bubblemaps queried the singer's actions.

Doubts and Due Diligence

Additionally, the firm doubted whether Sahil Ahora tricked the singer and noted, "Derulo's actions don't match someone who got fooled."

Bubblemaps claimed that Derulo seemed to "know" what he was doing. Based on ZachXBT and Bubblemaps' claims, one can't outrightly mark JASON or the singer as a scam. However, utmost due diligence is critical for anyone who wishes to jump onto JASON's massive rally.

Market Performance

As of press time, per Dex Screener, JASON was up 6,000%, with a market cap of $15 million. The celebrity memecoin had rallied +100% in the past 24 hours alone, indicating massive buying pressure.