Kanye West is reportedly set to launch a new memecoin, prompting widespread skepticism and warnings from the cryptocurrency community. Concerns have been raised regarding the potential for a pump-and-dump scheme, with multiple users advising against purchasing the token. Allegations suggest that West's social media account may have been compromised by crypto scammers, who are believed to be orchestrating the coin's launch. The token is expected to debut on the Binance Smart Chain (BSC), with predictions of a rapid decline in market capitalization following initial trading. Critics are urging the community to refrain from buying the coin, citing past scams associated with similar projects. The overall sentiment reflects a cautious approach, with some members of the community calling for unity against supporting such tokens.