The Yua Mikami meme coin (MIKAMI) experienced a dramatic price drop shortly after its launch on May 8, 2025.
This meme coin, tied to Japanese entertainment star Yua Mikami, plummeted over 80% from its peak, leaving pre-sale investors with losses of up to 60%.
Fans Burned as Yua Mikami’s Meme Coin Collapses
Yua Mikami, a well-known Japanese entertainment star, had no prior involvement in the crypto space. However, leveraging her fame, Mikami launched her own meme coin, MIKAMI, on the Solana blockchain. This coin initially garnered significant attention from the crypto community.
According to an official announcement from the Mikami Coin account on X, the MIKAMI pre-sale concluded on May 3, 2025. It successfully raised over 23,000 SOL, equivalent to approximately $3.4 million at the time.
The same account confirmed that 17,560 valid addresses participated, contributing a total of 23,320.74 SOL. Notably, the team filtered out over 21,000 spam transactions involving deposits of less than 0.002 SOL. Pre-sale investors received tokens proportional to their contributions, with an average cost of $0.245 per token.
However, shortly after MIKAMI officially launched and began its airdrop in the early hours of May 8, the token’s price nosedived. Within just five hours of launch, MIKAMI’s price dropped to $0.1, marking a 60% loss for pre-sale investors.
As of this writing, the token’s price has continued to decline sharply, losing over 80% from its peak, with a market capitalization of roughly $7 million. Price charts on Dexscreener reflect this collapse, showing MIKAMI falling from a high of $0.828 to $0.1 in a matter of hours.
What Caused the Sharp Decline?
The crash of MIKAMI is not an isolated incident in the meme coin market, which is notorious for its high volatility and reliance on crowd psychology.
“Meme coin psychology: It’s not FOMO — it’s “maybe this one will fix everything,” said one X user
However, these tokens frequently lack intrinsic value and are prone to manipulation. In MIKAMI’s case, the 80% price drop immediately after launch suggests a possible “sell-off” by large investors (whales). They accumulated tokens during the pre-sale and dumped them once the token was listed.
Additionally, data reveals that MIKAMI’s tokenomics structure carries inherent risks: 50% of the total supply is locked for Yua Mikami until 2069, 20% was allocated to the pre-sale, 15% to liquidity, 10% to the community, and 5% to marketing.
The 15% liquidity allocation is considered low compared to the typical 20-25% standard for meme coins, making the token’s price highly susceptible to sharp fluctuations during significant selling pressure.
Meanwhile, MIKAMI’s collapse was also influenced by broader market sentiment. At launch, the meme coin market was facing a downturn, with a 56.8% drop in capitalization since December 2024. This makes investors susceptible to panic selling when prices fall, further exacerbating the downward pressure on MIKAMI, which already lacks liquidity and community support.
The downfall of Yua Mikami Meme Coin (MIKAMI) serves as a textbook example of the risks inherent in the meme coin market, where high expectations tied to celebrity fame often fail to sustain token value.
The Middle East and North Africa (MENA) region is quickly becoming a notable force in the push for global crypto adoption. With growing participation from institutions and enterprises and supportive regulations for Web3 technology, MENA is set to expand its impact.
BeInCrypto interviewed Stephan Apel, CEO of Outlier Ventures, to explore the characteristics of these tech-driven economies and their anticipated innovations.
Web3 Adoption and Market Growth
MENA has emerged as a significant center for Web3 development, facilitated by a combination of demographic, technological, and cultural factors. The region’s entrepreneurial spirit has also fostered an environment conducive to the adoption of decentralized technologies.
“The MENA market has set a standard for adopting next-gen technologies and using them to boost their economic transformation. This is especially true for Web3 technologies— the region recognised their potential early on, offering the resources needed for these projects to scale and thrive on both regional and global levels,” Apel told BeInCrypto.
Consequently, the region is witnessing an increase in startups, investors, and developers exploring Web3 and its diverse applications.
A 2024 Chainalysis report revealed that MENA was the seventh biggest crypto market worldwide. From July 2023 to June 2024, the region saw $338.7 billion in online crypto transactions, representing 7.5% of all crypto transactions globally.
Share of all cryptocurrency transaction value by region. Source: Chainalysis.
Notably, Turkey and Morocco ranked among the top 30 countries globally in crypto adoption. Turkey secured the 11th spot, while Morocco ranked 27th. These nations alone accounted for $137 billion and $12.7 billion in received cryptocurrency value, respectively.
Furthermore, the MENA region’s crypto activity is predominantly driven by institutional and professional players, as a substantial 93% of all value transferred involves transactions exceeding $10,000.
Meanwhile, Gulf Corporation Council (GCC) members have distinguished themselves through their ambitious technological initiatives.
MENA’s Strategic Shift Towards AI
The onset of artificial intelligence (AI) has prompted governments and businesses within the Middle East to acknowledge the global trend towards related advanced technologies. Countries like Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are considering their strategic position concerning this technological transformation.
According to a report by PricewaterhouseCoopers (PwC), AI could contribute up to $15.7 trillion to the global economy in 2030. The consulting firm predicts that the Middle East will bring 2% of the total global benefits, equal to $320 billion.
MENA’s pioneering role in AI development. Source: PwC.
The PwC report also indicates that Saudi Arabia will see the largest absolute gains from AI by 2030, with an estimated US$135.2 billion added to its economy, or 12.4% of GDP. In terms of GDP percentage, however, the UAE is expected to see the greatest impact, approaching 14% of its 2030 GDP. Meanwhile, for GCC states Bahrain, Kuwait, Oman, and Qatar, AI is expected to contribute 8.2% of their GDP.
Given the region’s latest initiatives and investments in AI innovation, these numbers come as no surprise.
Saudi Arabia’s AI Development Initiatives
In 2016, the Saudi Arabian government launched Vision 2030, a program to promote economic, social, and cultural diversification. Integral to this vision is a strategic shift towards artificial intelligence and data-driven innovation, a key component of the nation’s economic diversification efforts.
Saudi Arabia is making notable advancements in AI. The country aims to reduce its reliance on oil by developing advanced technology sectors through targeted investments, infrastructure development, and workforce training.
“Fueled by its Vision 2030 initiative, Saudi Arabia has already created a thriving startup ecosystem, dedicated significant investment in emerging technologies,and designed policies to attract global talent and entrepreneurship,” Apel told BeInCrypto.
The Saudi Data and Artificial Intelligence Authority (SDAIA) spearheads Saudi Arabia’s push into artificial intelligence, shaping and implementing the country’s national data and AI strategy. The National Data Bank is a cornerstone of their efforts. It is designed as a central hub for data access and analysis, facilitating AI applications across public and private sectors.
Last November, Saudi Arabia also unveiled Project Transcendence. The $100 billion investment initiative focuses on accelerating the integration of AI and advanced technologies.
Similar to its neighbor, the UAE has actively pursued AI adoption.
UAE’s AI Strategy and Investments
In 2017, the UAE launched its National Strategy for Artificial Intelligence, which aims to make the country a global leader in the field by 2031. The UAE AI and Blockchain Council oversees this strategy, which impacts sectors like education, energy, and tourism.
The UAE is already reaping the benefits of its AI initiatives. In April, Microsoft announced a $1.5 billion investment in G42, an Abu Dhabi-based technology holding company. G42 is known for its data centers and the development of Jais, a leading Arabic-language AI model.
In September, G42 and Nvidia partnered to create AI-driven solutions for improved weather forecasting. The collaboration aims to advance climate-related technologies by using Nvidia’s Earth-2 platform, which enables AI-augmented climate and weather simulations.
Three months later, Abu Dhabi-based global technological ecosystem Hub71 partnered with Google to boost startup growth in the UAE. This collaboration will bring Google’s “Google for Startups” program to Abu Dhabi, including a dedicated accelerator for Hub71 startups in 2025.
He also drew attention to the planned convergence of AI and Web3 technologies in these prominent regions.
Convergence of AI, Web3, and IoT
Integrating the Internet of Things (IoT), blockchain, and AI technologies is gaining traction among businesses in the Middle East. By combining these technologies, organizations can access new avenues for growth, increase efficiency, and create novel user experiences.
In 2018, the Dubai Airport Freezone Authority launched Dubai Blink, a platform that integrates AI, blockchain, and virtual licenses to facilitate global trade. This system enhances supply chain innovation through ‘smart commerce’ by expediting trade with a unified online platform. Furthermore, it addressed the cumbersome process of supplier identification by using AI algorithms to streamline and accelerate the validation process.
Ultimately, MENA’s proactive approach to technological advancement, coupled with its strategic focus on Web3 and AI, signals a future where the region will be a pivotal architect in shaping the digital economy.
A drug gang in the UK has created its own cryptocurrency, marking what experts believe is the country’s first known case of criminals launching a digital token to launder illicit profits.
While illicit gangs mostly rely on crypto mixers to launder money using Bitcoin or Ethereum, this particular gang created its own meme coin. They hoped it would go viral on social media and quickly spike in value.
Meme Coins and Money Laundering – A New Trend for Criminals?
According to MailOnline, experts have identified this case as the first time a British street gang has launched a real meme coin as a laundering method.
The gang operates at a mid-level and makes money through extortion, fraud, drug trafficking, and selling counterfeit goods and smuggled cigarettes. The report does not disclose the name of the coin or the gang behind it.
Gary Carroll, a drug crime expert at Claymore Advisory Group, said criminals have used cryptocurrencies to launder money for at least 15 years. Now, with meme coins, they’ve found an even easier way to do it.
Illustration of How Criminals Launder Money Using Meme Coins. Source: MailOnline
Carroll explained that the gang plans to inflate the coin’s value through online hype campaigns. Once the price rises, they will dump the coin and cash out. They aim to disguise the proceeds as legitimate income from cryptocurrency ventures, not drug sales.
“Even if the coin only rises by a small amount, they could still make a lot of money before selling out. Those profits will appear to be from crypto entrepreneurship rather than drugs.” He emphasized.
Are Launchpads Amplifying Crypto Crime?
Although this might be the first recorded incident of gangs turning to meme coins, given the current state of the ecosystem, it’s likely to become a trend. Launchpads have made it extremely easy to launch a meme coin and shill it on social media.
This year alone, the market has lost billions in meme coin scams, pump-and-dump schemes, and rug pulls. Thus, it naturally attracts illicit actors and gangs and provides a more convenient channel for them to launder money.
“In one or maybe two years’ time there will be cases in court, I’m confident about that. But there are no examples of this happening in the UK…My own opinion is this will become more common. It’s a way to semi-legitimise their trade,” Carroll predicted.
According to a report published by Merkle Science in February 2025, scams and rug pulls involving meme coins caused more than $500 million in losses worldwide in 2024.
Of those incidents, 75% were carried out via X (formerly Twitter), and 19% on YouTube. Psychological manipulation tactics (social engineering) accounted for 44% of all scam techniques.
Merkle Science also noted that most rug pulls happened on the Solana blockchain, where tools like pump.fun made it significantly easier to launch and promote meme coins.
Cardano has noted significant whale activity over the past 24 hours, aligning with the broader market recovery. During that period, the total crypto market capitalization has added another $50 billion, signaling renewed bullish momentum.
As bullish pressure strengthens, ADA appears poised to re-commence an upward trend.
Cardano Sees Heavy Whale Accumulation
On-chain data shows that Cardano whales, holding between 100 million and 1 billion coins, have acquired 190 million ADA in the past 24 hours. This cohort of large ADA investors currently holds 3.22 billion coins.
When whales increase their coin holdings, it signals strong confidence in the asset’s future price potential.
Large-scale accumulation like this would reduce ADA’s available supply in the market, which can drive up its price if demand remains steady. The trend indicates a bullish outlook, as whales typically buy in anticipation of higher prices.
ADA’s Network Realized Profit/Loss (NPL) further supports this bullish outlook. At press time, it stands at -15.87 million.
This metric measures the net profit or loss of all coins moved on the blockchain depending on their acquisition cost. When an asset’s NPL is negative, many investors are holding at a loss.
This situation is known to reduce the selling pressure in the market, as traders may choose to hold their assets instead of realizing losses, which could support a potential price rebound.
The steady dip in ADA’s NPL indicates that many holders are sitting on unrealized losses. To avoid selling at a loss, they may choose to hold onto their investments, reducing selling pressure. The increased holding time could, in turn, drive up ADA’s price as supply tightens in the market.
ADA’s Buying Pressure Increases—Will It Fuel a Price Breakout?
At press time, ADA trades at $0.72. On the daily chart, the coin’s Chaikin Money Flow (CMF) is in an uptrend and poised to cross above the zero line, highlighting the rise in buying pressure.
The indicator measures fund flows into and out of an asset. When it attempts to break above the zero line, it signals a potential shift from selling pressure to buying pressure.
If the breakout is sustained, it would confirm strengthening bullish momentum in the ADA market and hint at a potential price uptrend. In this case, the coin’s price could rally toward $0.82.
