In a bizarre turn of events, a developer of the Solana-based meme coin, Vigilante (VIGI), made headlines by hijacking the iconic Hollywood sign in Los Angeles. The unidentified man climbed atop the famous landmark and waved a white flag bearing the logo of the meme coin, attracting the attention of park rangers and local law enforcement.
The stunt, which took place over the weekend, was part of a marketing campaign orchestrated by the VIGI team to promote their token. The developer stood on the Hollywood sign for approximately 60 minutes before being detained by authorities. This unconventional promotional tactic garnered widespread media coverage and sparked discussions within the cryptocurrency community.
Vigilante (VIGI) was launched on Feb. 15 via Pump.fun, a platform that facilitates the creation and promotion of meme coins. The team behind VIGI promised to deliver the most viral token promotion ever seen, leading to a surge in market capitalization to nearly $4 million. However, the token’s value plummeted by over 70% shortly after the Hollywood sign incident, with its market cap dropping to $1.3 million.
This incident is just one example of the extreme measures that developers of meme coins are willing to take in order to attract speculative investors. The competitive landscape of Solana meme coins has led to a proliferation of unorthodox marketing tactics, including dangerous stunts and controversial promotions.
In the past, developers have resorted to extreme actions such as setting themselves on fire or engaging in lewd acts to promote their tokens. These tactics have drawn criticism from the community and raised concerns about regulatory scrutiny. As a result, Pump.fun disabled its streaming feature, which was being used by developers to broadcast their promotional stunts.
The hijacking of the Hollywood sign by the Vigilante developer underscores the lengths to which some cryptocurrency projects are willing to go to gain attention and drive up token prices. While these tactics may generate short-term buzz, they also highlight the risks and volatility associated with meme coins and the broader cryptocurrency market. As the industry continues to evolve, it remains to be seen how regulators will respond to these unconventional marketing strategies.