In the recent controversy on the show India’s Got Latent, multiple fake memecoins have been created on Pump.fun in the name of famous YouTuber and podcaster Ranveer Allahbadia (Beer Biceps), capitalizing on the drama.
Among these are two standout tokens; BEERBICEPS and Justice for Ranveer Allahbadia (JFRA). The BEERBICEPS memecoin has jumped 35% and quickly went back down to its launch price hours later.
Likewise, the JFRA token pumped 22% before losing momentum. Both tokens currently have a meager market cap of just $5,496, a sign of low trading volume and speculative interest.
As the controversy happened, fake memecoins in the name of Samay Raina also appeared on Pump.fun, which had a market cap of just $5,625.
The controversy started when the Latent show featured roasts made by Samay Raina and Ranveer Allahbadia on some of the contestants. This prompted a police complaint against both parties. When news of the complaint broke, opportunistic crypto traders immediately created the Justice for Ranveer Allahbadia (JFRA) memecoin, a practice that has the feature of launching speculative tokens in the wake of virality.
This phenomenon isn’t new in the crypto space. Just yesterday, when Elon Musk changed his X (formerly Twitter) display name to “Harry Bolz,” a wave of Harry Bolz-themed memecoins flooded the market within minutes. Similarly, after news of actor Saif Ali Khan’s recent attack surfaced, fake Saif Ali Khan tokens appeared on Pump.fun.
In an ever-viral world, memecoins have become a mechanism for traders to latch onto by riding the coattails of either a real or fictional viral event. BEERBICEPS and JFRA shot up and crashed just as quickly, bouncing between a few speculators trying to find their next big crypto bet.
