The Kanpai Pandas NFT Collection price fell 37.44% in 24 hours and 40.13% in the past seven days. According to data from NFT marketplace Blur, the price fell from 0.775 ETH on August 8 to a low of 0.42 ETH on August 9, marking a 45% drop.
The Kanpai Pandas NFT collection price is currently 0.46 ETH, valued at $1,220. The recent price drop follows accusations that the creators promoted Restore the Republic (RTR), a Donald Trump-themed sign that the Trump family subsequently disavowed.
Source: Blur
The community blamed the Ice Bagz CEO and his team for the collection’s price drop. They allegedly promoted the RTR token, which was supposed to be an “official” Trump token. However, Donald Trump’s son Eric Trump has strongly denied that there is a link between the token and the Trump family.
The Kanpai Pandas team faces criticism
The newly launched token on Solana (SOL), called Restore the Republic, soared to a market value of $155 million before plunging 95% on Thursday after a warning from former President Donald Trump’s son, indicating that his father does not own an official. sign.
This led to the community targeting members of Kanpai Pandas who had previously promoted the token on X before Trump made any official statement.
entire kanpai cabal (@bagzybagz1321, @SizeChad, @RookieXBT, @buyerofponzi) tricked followers into the “official” trump coin $rtr when they launched it
Did you think Bagz was one of the good ones? https://t.co/0YgW1c4M1k pic.twitter.com/HMY0TMKQXg
— Legacy (@LegacyApe) August 8, 2024
An X user named “Legacy Ape” shared screenshots showing members of the Kanpai Pandas team promoting the token on X. Conversely, another community member shared a screenshot suggesting that Kanpai Labs was behind the token’s Google ads.
Earlier this week, Ryan Fournier, a conservative advocate and student leader of Students for Trump, spread the word, claiming that “rumor has it that the official Trump coin is out… called Restore the Republic.” However, that tweet on
Screenshot of a tweet from Ryan Fournier (X)
Ice Bagz responds amid growing controversy
After the Trump family denied their involvement in RTR, Kanpai Pandas founder Ice Bagz posted a vague response to Donald Trump Jr.’s post. on X, thanking those who “sent love” during the controversy. According to Kanpai’s creator, the Trump family picked the launch date and then “cracked down on it.”
Current Market Capitalization of DJT Coin (Source: DexScreener)
Last week there was another incident involving another Trump-themed token. TrumpCon (DJT) made headlines when Martin Shkreli, an American investor, claimed that he and Donald Trump’s son Barron had developed the token. However, the token lost 90% of its value when a major holder dumped its tokens.