“Ibiza Final Boss” Cryptocurrency Tanks Days After Memecoin Launch

Another day, another “celebrity” memecoin disaster. The BOSS token, launched by British TikTok influencer Jack Kay after his viral “Ibiza Final Boss” moment, has reportedly cratered 84% within just 72 hours of its debut on Solana, wiping out over $40 million in market value.

After launching on August 8th, BOSS initially soared to a $50 million market cap. But the token now sits at a measly $9.66 million valuation, with trading volume plummeting 75.3% to $4.23 million in the past 24 hours, according to CoinCentral.

Known for his LEGO bowl cut and thick gold chains, Kay became an overnight internet phenomenon after a video of him dancing in Ibiza went viral on social media. He quickly signed with a talent management agency and released a debut single in addition to the controversial memecoin.

While Kay is the face of the token, the project’s actual governance structure remains opaque, and there’s no verified team or clear leadership hierarchy. More troubling are allegations that Kay pocketed over $100,000 through trading fees built into the smart contract on the Solana blockchain, allowing him to profit even as token-holders watched their investments evaporate, per CoinCentral.

The BOSS token collapse fits a depressingly predictable pattern. Internet personality Haliey Welch, who first went viral for her racy “hawk tuah” comments, launched the Solana-based HAWK memecoin in December 2024 and promoted aggressively on social media before it skyrocketed to a market cap of around $490 million within hours of launch. The token plummeted over 95% in value shortly after, with blockchain analysis showing a small group of insider wallets dumping more than 80% of the supply for millions in profits. Investors reported massive losses, leading to a class-action lawsuit and an SEC complaint.

YouTube streamer Ice Poseidon, whose real name is Paul Denino, launched CXCOIN in July 2021, promoting it to his followers as a long-term hold. Denino ultimately admitted to taking over $500,000 in funds from the token’s liquidity pool and pre-sale wallets, profiting him over $300,000 as a result of the pump-and-dump scheme.

Jack Kay has not publicly addressed the BOSS memecoin at the time of this writing.

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