# FLOCKA

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-06-18

---

Rapper Waka Flocka Flame launched a new Solana memecoin, FLOCKA, but faced immediate scrutiny. Blockchain analyst ZachXBT flagged significant supply concerns shortly after its debut.

Despite initial hype, FLOCKA plummeted 77% from its peak. This follows a trend of celebrities like Iggy Azalea and Hulk Hogan diving into the memecoin craze, sparking debate within the crypto community about the implications of celebrity-backed tokens.

Ethereum's Vitalik Buterin has voiced skepticism, questioning the trend's long-term value.

---

*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/flocka)*