Cardi B’s Tweet Causes WAP Token Market Cap to Plunge 93%

Cardi B's recent tweet regarding the meme token Wet A*s P*ssy (WAP) led to a rapid market decline. Key events include:

WAP's market cap fell from $2 million to $150,000.
The token briefly surged to $0.0020 before crashing over 90% to $0.00019.
A few wallets bought large amounts of WAP days before the tweet and sold shortly after, making approximately 10 times their investment.
This behavior suggests a potential pump-and-dump scheme.

Investors experienced significant losses, with WAP's value dropping 80% in 24 hours, returning to late May levels. Cardi B clarified her account wasn’t hacked but caused skepticism about the tweet's intent and its impact on the market. Past controversies surrounding WAP raised concerns over fraud and manipulation, leading to investigations.