EddieJayonCrypto

 18 Sep 24

tl;dr

The Smoking Chicken Fish (SCF) meme coin, which transformed into a religion with plans for a physical church, has removed its leader amid accusations of scamming. The remaining team has regained control of the project's website and Telegram channel while attempting to access the Twitter account. All...

Smoking Chicken Fish (SCF) meme coin turned religion faces turmoil as de facto leader ousted amid scam allegations. Pastor Kelby accused of financial impropriety including accepting payments without disclosure, leading to community backlash. Kelby's alleged involvement in promoting other projects for personal gain sparks internal and external scrutiny. Church of the Smoking Chicken Fish community confronts Kelby, leading to Twitter account ransom demand and creation of new token. Kelby's actions prompt community takeover, with new leadership vowing to steer the church toward decentralization.


The Smoking Chicken Fish (SCF) meme coin, which transformed into a religion with plans for a physical church, has removed its leader amid accusations of scamming. The remaining team has regained control of the project's website and Telegram channel while attempting to access the Twitter account. Allegations against Pastor Kelby include taking payments from derivative projects without team consent, receiving "church donations" in his personal wallet, and promoting other projects during church sermons. Kelby's actions led to a loss of trust and financial damage for the BigTittyChicken project. Concerns about Kelby siphoning funds intended for the church and targeting large token holders have surfaced. The community formed a Discord server to investigate Kelby, leading to confrontations and his attempt to hold the official Twitter account for ransom. Kelby created a new token, but its value plummeted, and he faced potential SEC action. Following these events, Kelby's Twitter account disappeared, and the community plans to oversee the church's future, aiming for decentralization.


Absurdist meme coin Smoking Chicken Fish (SCF), which evolved from a Solana token into a religion with plans to build a physical church, has ousted its de facto leader amid a flurry of “scammer” allegations. With this, the remaining team has retaken control of the project’s website and Telegram channel, and is currently fighting to get into the Twitter account. Community and core team members of the SCF token claim that Pastor Kelby took payments from derivative projects without notifying the rest of the team, received “church donations” directly into his personal wallet, and has launched a number of “rug pulls.” Pastor Kelby did not respond to Decrypt’s repeated requests for comment via Telegram or LinkedIn.


Smoking Chicken Fish is a meme coin that started with a weird photo. But things took a turn when contributors developed their own moral and philosophical laws, turning into a “church” that worshiped “Lord Fishnu” and registered as a nonprofit organization. Pastor Kelby led daily sermons where he read passages from his favorite self-help books. While there had been murmurings to not trust Kelby from the get go, everything came to boiling point when he shilled a project during one of the church’s daily sermons. An hour before the daily sermon, the project’s official Twitter account posted that a then-$2 million market cap meme coin called BigTittyChicken (BTC) was the project’s “little sister.” According to a core team member, Kelby apparently stated in the now-deleted Twitter Spaces that he would host this project all week—but then did not host them again. Meraki Crypto, a BigTittyChicken team member, also said that this was to be a “long-term partnership,” but that Kelby did not keep his word. The SCF team claims that Kelby used his access to the Twitter account and association with the church to be paid for this promotion, without consulting anyone else in the project.


Pastor Kelby said that he did not create the original Pump.fun token behind the meme religion, but was in touch with the deployer from the start. The original creator held onto tokens that Kelby would be paid for his work on the project. Unfortunately, the founder of SCF purportedly “went rogue,” said Kelby, selling all the tokens and ghosting everyone. Despite having no tokens in his wallet, Kelby continued to push the project, leading daily Twitter Spaces where he pushed the gospel of the newly formed religion. “I figured that something would work out near the end that I would end up making money too,” Pastor Kelby said in August during an episode of Decrypt’s podcast, “What’s the Meta?”


A wallet address provided by a core team member—who wished to remain anonymous due to fear of retaliation from Kelby—as well as the BigTittyChicken team received 10 million of the BTC meme tokens before the announcement, and sold this entire bag in three clips over the next four hours. “For BigTittyChicken, this was a disaster,” a BigTittyChicken Telegram admin told Decrypt. “Our price tanked, trust was shattered, and we had to scramble to fix our reputation to keep the project alive.” Pseudonymous SCF community team lead Benji

More about

Technical Analysis: Unveiling Market Trends

In the current market landscape, the S&P 500 index has exhibited a strong bullish trend, supported by the convergence of its 50-day and 200-day moving averages. This indicates a potential continuation of the upward momentum. However, caution is advised as the Relative Strength Index (RSI) approaches overbought levels, suggesting a possible near-term correction.


The technology sector has shown resilience, with the Nasdaq Composite index forming a classic cup and handle pattern, signifying a bullish breakout. This pattern, coupled with a bullish crossover in the MACD (Moving Average Convergence Divergence) indicator, reinforces the positive outlook for tech stocks.


Conversely, the energy sector faces headwinds, as indicated by the bearish divergence in the RSI and the breach of key support levels in major energy stocks. This could foreshadow a downward trend, warranting a cautious stance for investors in this sector.


Overall, while bullish sentiment pervades the market, it's essential to remain vigilant, considering the potential impact of economic indicators and geopolitical developments. Adhering to robust risk management strategies is paramount in navigating the dynamic market environment.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 21 Sep 24
 20 Sep 24
 20 Sep 24