BOSS Memecoin Crashes 84% in Just Three Days, Wiping Out $40 Million

The latest celebrity-backed memecoin hype has ended in disaster. BOSS token, launched by British TikTok influencer Jack Kay following his viral “Ibiza Final Boss” dance video, has plunged 84% in value within 72 hours of its debut on Solana. The crash erased over $40 million in market capitalization, leaving the token’s current valuation at just $9.66 million.

BOSS launched on August 8 with a wave of online attention, quickly soaring to a $50 million market cap. However, trading volume has since dropped 75.3% to $4.23 million in the last 24 hours, according to CoinCentral.

Jack Kay, recognizable for his LEGO-style haircut and gold chains, became a social media sensation after his Ibiza clip went viral. He soon signed with a talent management agency, released a single, and launched his own memecoin. But despite his public persona, the project’s governance structure remains murky, with no verified leadership team.

Concerns are growing over allegations that Kay earned more than $100,000 in trading fees embedded in the token’s Solana smart contract, profiting even as investor holdings collapsed. These claims mirror a worrying trend of celebrity memecoins crashing after explosive launches.

In late 2024, internet personality Haliey Welch launched the Solana-based HAWK token, which skyrocketed to a $490 million market cap before losing over 95% of its value. Blockchain analysis revealed insider wallets sold more than 80% of the supply, causing investor losses that led to lawsuits and SEC scrutiny.

Earlier, in 2021, YouTube streamer Paul “Ice Poseidon” Denino promoted CXCOIN as a long-term investment, only to withdraw over $500,000 from liquidity pools and pre-sale wallets, pocketing more than $300,000 in profits.

As of now, Jack Kay has not issued a public statement regarding the BOSS token’s collapse, leaving investors frustrated and uncertain about the future of the project.