In the fast-paced world of meme tokens, where viral sensations can turn into digital gold overnight, a recent launch has stirred up quite the debate. A thread on X (formerly Twitter) by user @StarPlatinumSOL highlighted concerns about $TENGE, a token inspired by the popular African dance meme star Rango Tenge Tenge. Let's break down what happened and why it's got the crypto community talking.

The thread starts with @StarPlatinumSOL sharing screenshots from TikTok, showing Rango's official profile promoting the token. Rango, known for his catchy "Tenge Tenge" dance that took social media by storm, boasts over 10 million followers. The post includes the contract address (CA) for $TENGE on the Binance Smart Chain (BNB), along with links to buy it.

But here's where it gets dicey. According to the thread, the token's team controls a whopping 90% of the supply and began selling off holdings right as the promotion kicked off. "I’m sure the poor guy has no idea what he’s doing and his team is taking advantage of him through crypto," the poster laments, expressing frustration with the industry's darker side. To illustrate the point, there's a chart showing a sharp price spike followed by a steep drop – classic signs of a pump and dump scheme.

For those new to crypto lingo, a "pump and dump" is when insiders hype up a token to inflate its price, then sell their shares, leaving retail investors holding the bag as the value crashes. And with celebrity-backed tokens, this happens more often than we'd like – think of past flops where stars lent their name without understanding the mechanics.

The thread quickly gained traction, racking up over 130 likes and sparking numerous replies. Some users agreed, with one saying, "if you are getting rug on bnb followin a token from an african kol you deserve it lol" (rug pull being another term for a scam where liquidity is yanked). Others shared experiences of bot attacks from the project, hinting at aggressive marketing tactics.

However, not everyone was on board with the criticism. Defenders jumped in, urging the original poster to "get your facts straight." One reply pointed out the team's transparency in disclosing holdings and suggested the FUD (fear, uncertainty, doubt) might be a ploy to buy in cheap. Another highlighted $TENGE's charitable angle, linking it to Giggle Academy, an education initiative by Binance founder Changpeng Zhao (CZ).

Giggle Academy aims to provide free education in underserved areas, and recent reports show it raised over $1.3 million in donations, with meme coins like $TENGE playing a big role. CZ himself praised the utility of meme coins in philanthropy, noting a surge in learners from Ethiopia – potentially tied to Rango's African fanbase. One reply even quoted CZ's post about new users from the region, arguing that $TENGE is helping underprivileged kids access internet and education.

So, is $TENGE a shady scheme or a meme with a mission? Current data from DEX Screener shows a market cap around $967K and liquidity of $161K, with no major red flags from security audits. But without clear visibility on holder distribution, the 90% team control claim lingers as a concern.

This saga underscores a key lesson in meme token investing: always do your due diligence. Check contract addresses on sites like BscScan, review tokenomics (how the supply is distributed), and watch for unusual wallet activity. Viral fame can drive hype, but it doesn't guarantee legitimacy.

For more on emerging meme tokens and blockchain news, stick with Meme Insider. What's your take on $TENGE – buy the dip or steer clear? Dive into the original thread and join the conversation.