$JAILSTOOL Speedrun Review: A celebrity's tweet skyrocketed the market value to $150 million in 3 hours
What is the potential for this Token to rise? It completely depends on Dave's decision.Author: Deebs DeFi
Source: Deebs DeFi X account
Compiled by: Deep Tide TechFlow
This is Dave Portnoy.
The millionaire businessman once pushed a Meme coin to a market cap of $150 million in just 3 hours.
But who exactly is @stoolpresidente? Is he a hero or a fraud?
Here is his complete story.
Dave Portnoy, nicknamed "El Presidente," is an American entrepreneur known for founding Barstool Sports.
Barstool Sports started as a small sports newspaper he distributed in the subway but later evolved into a multi-million dollar business empire.
However, Barstool is not the only reason Dave became famous.
Dave is also a well-known internet celebrity.
He gained significant attention in the U.S. for his sharp pizza reviews and wild sports betting.
Therefore, it’s no surprise that Dave ventured into another thrilling field, which is cryptocurrency, touted as "the most exciting casino in the world."
Dave's cryptocurrency journey began when he hinted that he might launch a token.
However, he stated that he needed to learn more.
He wanted to ensure that any token he launched would be safe and fair.
But what happened next surprised everyone…
Dave started casually buying some tokens on Solana and sharing these moves on Twitter.
He quickly discovered the profit potential of cryptocurrency—turning $10,000 into $75,000 in just a few minutes.
He also candidly told everyone that he would sell these tokens.
But this behavior sparked discontent in the crypto community.
Many directly called Dave a fraud, including @coffeebreak_YT.
It seemed the entire crypto community was condemning Dave.
But Dave decided to surprise everyone again.
On February 8 at 20:41 (UTC), Dave bought $200 worth of a new token called #JAILSTOOL.
Like the previous tokens he bought, this was not a token he issued himself.
So initially, no one paid much attention.
However, Dave started tweeting again.
He found this token very interesting and told investors he wouldn’t sell it anytime soon.
As a result, the price skyrocketed.
However, not everyone believed Dave's words. The creator and largest holder of #JAILSTOOL were skeptical.
A few hours after Dave's tweet, the creator of #JAILSTOOL sold 20 million tokens, cashing out $50,000.
(This also cost him over $2 million in potential profits.)
However, Dave chose not to sell his holdings; instead, he doubled down and bought $200,000 worth of tokens.
What happened next is predictable.
The price of #JAILSTOOL experienced a crazy surge.
In just 3 hours, the market cap of JAILSTOOL soared to $150 million.
Now, its market cap has surpassed $200 million, with no signs of slowing down.
But the question is: what will happen next? Is this token safe? Does it have more room to grow?
Regarding safety: From the current supply situation, the distribution of JAILSTOOL seems relatively healthy.
There are many holders, and there are no obvious signs of insider trading.
However, I need to remind everyone that one holder controls nearly 8% of the total supply.
This wallet and Dave himself could sell at any time.
But do I think Dave will sell immediately?
It’s unlikely in the short term. (Not financial advice)
Why do I say this? Because Dave has tied his cryptocurrency reputation to this token. He surely wants to see how high this coin can go.
You can look at his tweets.
If you know Dave's pizza reviews, you’ll understand he is an extremely proud person.
In my view, the pride and sense of achievement from controlling a top Meme coin are far more important to him than a few million dollars.
So, how much room does this token have to grow?
I want to make it clear: It entirely depends on Dave's decision.
Although he initially didn’t plan for this token to become his "official currency," there are many reasons that might make him change his mind:
The legal risks are minimal. (After all, he is not the creator of this token)
He has some control over the supply.
His fans have already made a lot of money from it.
If he sells now, it would only damage his ever-growing reputation in the crypto community.
If Dave ultimately accepts this token as his "official currency," then a market cap of $1 billion is not impossible.
We have seen similar successful cases of celebrity Meme coins before. (Not financial advice)
