According to a report from BlockBeats news, on October 7, there was a heated exchange between on-chain investigator ZachXBT and cryptocurrency influencer Zion “Ansem” Thomas regarding the promotion of MEME tokens.
When Thomas was called out by ZachXBT, he mentioned how Thomas had promoted MEME tokens to his followers without any real market advantage, referencing a speech by MEME supporter Murad Mahmudov at the Token 2049 conference. ZachXBT criticized Thomas for continuously promoting low-market meme coins to his followers, suggesting it was exploiting their trust rather than offering genuine investment advice.
In response, Thomas defended himself by pointing out a successful recommendation he made to his followers regarding a token called WIF, which saw a significant increase in value. He argued that promoting tokens with real potential for growth was more beneficial than simply focusing on utility-based tokens like Chainlink.
The debate ensued over the performance of various low-market-cap tokens promoted by Thomas, with examples like BODEN, HOBBES, ZEUS, and WYNN experiencing significant drops in value since their peak. The argument highlighted the potential risks involved in following the hype around meme coins.
Overall, the exchange between ZachXBT and Thomas shed light on the complexities of cryptocurrency promotion and the impact it can have on investors. [Source]