A new Solana-based meme coin promoted through Floyd Mayweather’s social media accounts briefly reached a market capitalization of about $1 million before losing 96% of its value within three hours. The token was launched on Fomo, a trading platform with social-media features, and has been claimed by Sahil Arora, a controversial promoter associated with several celebrity-linked crypto projects.
According to Decrypt, Arora described the Mayweather token as the beginning of a new campaign to revive the celebrity meme-coin trend on Fomo. He previously built his profile through celebrity-related launches on Pump.fun in 2024, including a token linked to former Olympian Caitlyn Jenner. Jenner later accused Arora of scamming her, while other projects connected to him have been described by celebrities and crypto industry observers as fraudulent or “rug pulls.”
How the Mayweather token moved
The token’s promotion created a fast-moving sequence of events. Mayweather’s social media account promoted the coin, according to multiple social media accounts, before the deployer wallet sold tokens for about $5,000 in profit and the promotional posts were deleted. The coin subsequently rose to its peak market capitalization of approximately $1 million, followed by a sharp decline of 96% over the next three hours.
Arora said the apparent decision to sell early was deliberate. His explanation was that the story of Mayweather missing out on larger gains helped drive attention and pushed the token’s price higher. Fomo’s design contributed to the spectacle: the platform combines trading with social features that allow users to see buying and selling activity, potentially turning individual transactions into viral events.
Arora also claimed that he made a seven-figure profit by selling through other wallets. Bubblemaps, an on-chain analytics firm, disputed whether that claim was plausible. The firm told Decrypt that the largest connected group of wallets made approximately $105,000, while the 100 most profitable traders together earned about $306,000. Those figures, Bubblemaps said, do not support Arora’s account of the proceeds.
Arora’s planned return to celebrity coins
Arora said the Mayweather launch was intended to be different from earlier projects that were accused of collapsing by more than 90% in seconds. He told Decrypt that he planned to recreate what he had done on Pump.fun in 2024, using strategies he said would allow other participants to win as well. When asked for details, he said the token had not been sold in a single promotional clip.
He also said he was close to the celebrities involved in his launches and that persuading them to participate was easy. The claim could not be independently established from the supplied material. Mayweather did not respond to Decrypt’s request for comment.
The episode highlights how celebrity promotion, transparent wallet activity and rapid social-media distribution can combine in meme-coin markets. A meme coin is a cryptocurrency whose value is often driven more by online attention and community activity than by an established business use. The rapid rise and fall of the Mayweather token illustrates the extreme price movements that can occur in such markets, although the available figures do not establish who ultimately benefited from the launch.
Mayweather’s earlier crypto history
The token is also the latest event in Mayweather’s long association with cryptocurrency promotions. In 2017, he encouraged fans to call him “Floyd ‘Crypto’ Mayweather” while promoting several token sales.
One of those promotions involved Centra Tech’s initial coin offering, or ICO. The project raised $32 million for a crypto debit card that it said was backed by Visa and Mastercard, although it was not. In 2018, the Securities and Exchange Commission charged Mayweather with promoting the offering without disclosing that he had been paid. He later agreed to pay a fine and refrain from promoting securities for three years.
In 2021, Mayweather also promoted EthereumMax, an obscure Ethereum-based token. He appeared at a Bitcoin conference wearing EthereumMax branding and drew criticism after suggesting that other tokens could succeed. He was later named, along with Kim Kardashian, in a lawsuit connected with EthereumMax; a judge dismissed the case by the end of 2022.
Moneyiar market picture
Moneyiar market data at 21:33-21:34 on October 15, 2026, show mixed performance among the listed digital assets:
- Sentient (SENT) was trading at $0.0207253271, up 7.4% over 24 hours but down 15.36% over seven days.
- ONEchain (ONE) stood at $0.1073661428, down 2.12% over 24 hours and 18.82% over seven days.
- Ontology (ONT) was priced at $0.0532458709, down 3.22% over 24 hours and 11.3% over seven days.
- Notcoin (NOT) traded at $0.0004202324, down 1.85% over 24 hours and 3.85% over seven days.
