Crypto traders launch Dolly Parton memecoins that crash hours later

Crypto traders launched memecoins honoring Dolly Parton after her death was announced Tuesday, with tokens appearing on platforms like Pump.fun and Robinhood Chain before crashing hours later. Issuers performed "rug pulls," selling holdings near peak prices to send values tumbling. Most tokens used variations of Parton's name, including "Dolly," which reached a market capitalization near $480,000 before plummeting below $180,000. The launches followed a pattern of memecoins emerging after celebrity deaths, including Liam Payne, Charlie Kirk, and Ozzy Osbourne. Memecoin mania peaked in 2025 with speculative capital flooding Solana, though most launches collapse to near zero. High-profile political tokens like TRUMP and MELANIA lost over 90% of their value, while Argentine President Javier Milei faced fraud investigations over LIBRA.