The announcement of Pitbull's new album titled Pitcoin has sparked a real frenzy among crypto speculators. Within the first 24 hours of the announcement, tokens created in honor of the upcoming release surged in price by approximately 100%, and the daily trading volume for one of them exceeded $583,000.
Token appeared within minutes
The rapper, whose real name is Armando Christian Pérez, announced the album on social network X. The release is scheduled for early October. However, notably, none of the Pitcoin tokens have received official approval from either the artist himself or his label.
The main PITCOIN token began trading in a pool on the Solana (SOL) blockchain just minutes after the album's title became public. This is a classic scenario for meme coins: speculators instantly react to any major news without waiting for confirmations.
At the time of analysis, the liquidity of the main pool stood at $54,387, and the daily trading volume was roughly 14 times higher than that of the closest competitor. A new version of the token also appeared in the Uniswap V4 pool on the Robinhood network — within less than seven hours, its value rose by 207%, reaching a market capitalization of $35,475.
Dozens of copies and zero market cap
Most of the copies went unnoticed. Currently, dozens of tokens are trading under the name Pitcoin, and most of them have a market capitalization that doesn't even reach $3,000. Pitbull's post garnered 115,500 views, and the rapper invited fans to visit the album's pre-order page.
This case is yet another confirmation of an established pattern. Every time a celebrity's name goes viral, dozens of fake tokens appear. In February 2025, Elon Musk posted an image of Dogefather, and within hours, developers launched new meme coins, two of which surged by 122% and 137% in a matter of minutes. A similar situation occurred with Gork tokens after Musk changed his handle in May — a rise of 7000%. Kanye West, for his part, warned fans about fakes but ultimately launched his own token, YZY.
My take: Such "one-day tokens" are a pure speculative trap. Without official confirmation from the artist or label, any such asset is a zero-sum roulette. Investors should remember: if an asset is created in minutes and has no real connection to the project, its price is merely a reflection of crowd emotions, not fundamental value.