Ariana Grande’s Meme Share Spikes Solana Coin

Early Monday, the Solana meme coin, Michi, witnessed an 18% surge in its value following pop star Ariana Grande’s Instagram story post. This rise in Michi’s price, as tracked by CoinGecko, came shortly after Grande shared a meme that inspired the creation of the coin.

The meme featured in Grande’s story was tailored to hold a pink “love potion,” set against a backdrop adorned with posters of a man covered in kiss prints. This creative edit is the handiwork of a fan account and references the music video for Grande’s single “The Boy Is Mine.”

The Instagram post humorously stated, “I think the boy is hers, [I don’t know],” accompanied by the meme’s image. The Michi Solana Instagram account playfully responded, saying, “Hey it’s me.”

In the initial eight hours after Grande’s story, Michi’s price modestly climbed by 3% to $0.22. However, the real spike occurred when crypto influencer Ansem, known for amplifying hyped coins like Dogwifhat (WIF), spotlighted Grande’s post on his Twitter. Within just an hour, Michi’s value leaped to $0.26—an 18% increase.

This event underscores a broader trend of celebrities diving into the cryptocurrency space. Notable figures like Caitlyn Jenner and Iggy Azalea have launched their own meme coins, and former kickboxer Andrew Tate recently embarked on a meme coin buying spree.

Despite the buzz, it’s doubtful that the repost was due to any security compromise on Grande’s part, as her regular social media activity, including a birthday message to her mom, continued uninterrupted.

The incident sparked discussions on Crypto Twitter regarding the authenticity of the repost. Many users believe it was a genuine, organic share of the meme, noting that while Michi originated as a meme, its cryptocurrency link remains widely unrecognized.

Many speculate that Grande likely shared the meme without knowledge of its association with the meme coin, focusing instead on promoting her new music video. A Twitter user remarked, “The memes most of these coins are based on are already viral. If a celeb posts about said meme, it’s because it’s already viral. They’re not promoting the underlying meme coin. It’s a great endorsement for the meme itself.”

The interaction between celebrity culture and cryptocurrency continues to unfold in intriguing ways, as seen in the case of Michi’s price surge following Ariana Grande’s meme share. This highlights the unpredictable yet significant impact of pop culture on digital asset markets.