Japan’s Economic and Security Minister Sanae Takaichi said she was “completely unaware” of a Solana-based meme token named after her, after the cryptocurrency’s market value briefly surged to about $30 million.
Takaichi wrote on
Her statement came after the token’s market cap hit $27.72 million, before falling back to around $6 million. On-chain data cited by Wu Blockchain shows that the top three addresses hold approximately 60% of the token’s supply, with several leading wallets recording significant inflows.
This isn’t the first time a meme coin inspired by a political figure has caused a stir, with the LIBRA token initially thought to have the backing of Argentinian President Javier Mire, leading to political unrest.
Gaoyi said she distanced herself and her office from the project by issuing the statement “to ensure there was no misunderstanding among the public.”
