Sahil Arora issued the Mayweather celebrity coin at Fomo, stating that it will replicate the Pump.fun model

Sahil Arora, a controversial promoter who launched a series of celebrity meme coins in 2024, is back at it again. His latest release, the Floyd Money Mayweather token, has gone live on the Solana trading platform Fomo, with Mayweather's social media account promoting it at one point. The token's market cap peaked at $1 million before plummeting 96% within three hours on Wednesday. According to information from various social media accounts, before Mayweather's account deleted the promotional post, the deployer's wallet had only cashed out about $5,000 in profit, after which the token surged back to a market cap peak of $1 million.

Arora told Decrypt that the entire scheme was meticulously planned, and the narrative of Mayweather missing out on profits actually drove up the token's price. Fomo integrates social media elements, allowing users to see who is buying and selling, making it easy to create viral spread. Arora claims to have made seven figures in profit on the Mayweather token through other wallets, but on-chain analytics firm Bubblemaps believes this is unrealistic: the largest associated wallet cluster made about $105,000 in profit, and the top 100 traders combined made only $306,000 in profit.

Arora stated that he will replicate all his operations from 2024 on Pump.fun on Fomo, but with better strategies to allow participants to profit as well. He claims to have close relationships with all collaborating celebrities, making it very easy to persuade them to participate.