Caitlyn Jenner has launched a meme coin named $JENNER on the Solana blockchain. The coin saw an initial surge, increasing by 15000% and reaching a market cap of $40 million, but later fell by 61% within six hours. Jenner accused her adviser, Sahil Arora, of scamming her and going radio silent after showing a couple of wire transfers. Despite the controversy, Jenner's involvement in the crypto space has garnered significant attention, highlighting a trend where celebrities are increasingly launching meme coins. Other celebrities like Iggy Azalea and Rich The Kid have also launched their own tokens recently. The authorities are now involved in the matter.