{"id":17489,"date":"2024-11-03T06:00:42","date_gmt":"2024-11-03T06:00:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17489"},"modified":"2024-11-03T06:00:42","modified_gmt":"2024-11-03T06:00:42","slug":"solana-rises-1400-despite-jim-cramers-idiot-criticism","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17489","title":{"rendered":"Solana Rises 1,400% Despite Jim Cramer\u2019s \u2018Idiot\u2019 Criticism"},"content":{"rendered":"

Remember the viral statement of Jim Cramer over Solana and other meme coins? In 2022, CNBC anchor Jim Cramer<\/a> called Solana, Litecoin, and other meme coins \u201cidiot investments.\u201d<\/p>\n

In a CNBC show dated December 9th, 2022, he added that Dogecoin, Solana, and XRP are \u201ccons\u201d and insisted that people should put their money on stocks of the same size. During this time, Solana is trading at $11, with a market capitalization below $5 billion.<\/p>\n

Today, Solana is trading at the $168 level, with a market cap exceeding $82.5 billion. In short, Solana\u2019s market price has increased by 1,400%, proving Cramer wrong.<\/p>\n

\u201cI do think you\u2019re an idiot.\u201d<\/p>\n

Jim Cramer speaking to crypto investors.<\/p>\n

Bitcoin price: $16,650
\nSolana Price: $4.32 pic.twitter.com\/X8V7rXYBlP<\/a><\/p>\n

\u2014 Altcoin Daily (@AltcoinDailyio) October 8, 2024<\/a><\/p>\n

Solana\u2019s Wild Market Ride And Cramer\u2019s Critique<\/strong><\/h2>\n

Jim Cramer is a popular and often polarizing host on CNBC. While many of his statements and arguments have been met with violent reactions, some of his comments and predictions came true.<\/p>\n

For example, in 2022, Cramer hit a few tokens, including Solana. Solana had a wild market ride in the last two years, defined by extreme volatility.<\/p>\n

In 2022, JIM CRAMER CALLED PEOPLE BUYING SOLANA AT 11$ AS \u201cSTUPID\u201d<\/p>\n

And Solana is trading over 170$+ now.<\/p>\n

Bro @jimcramer<\/a> is that you ser?<\/p>\n

Lemme be stupid but am still up than your whole stocks. pic.twitter.com\/cQ8986ean9<\/a><\/p>\n

\u2014 Crypto King.eth.sol (@cryptosanthoshK) October 30, 2024<\/a><\/p>\n

After the FTX fiasco, Solana hit single digits, provoking backlash and criticism from analysts and commentators, including Cramer. The anchor belittled the SOL holders as \u201cidiots\u201d when the token was trading at $11.<\/p>\n

Today, Solana is one of the best-performing tokens, which trades at $168, reflecting a 1,400% increase since the comments aired. This prompted many observers in the crypto community to popularize the \u201cInverse Cramer\u201d effect.<\/p>\n

Crypto Holders Now Popularize The Inverse Cramer Effect<\/strong><\/h2>\n

Like most tokens, Solana experienced extreme volatility in the last two years. Jim Cramer was one of the most vocal detractors of the token, saying that holders of SOL \u201care idiots\u201d and that these are con projects.<\/p>\n

In the same TV show, he added that SOL holders should not own and buy these tokens in the first place. However, current pricing for SOL paints a different picture.<\/p>\n

Plenty of other situations showcased Cramer\u2019s wrong or poor judgment. Since there were several bad calls from Cramer, many in the crypto industry have coined the term \u201cInverse Cramer Effect.\u201d<\/p>\n

In short, many observers suggest that the best trade should be the opposite of what Cramer says. Today, you can even find the Inverse Cramer ETF, which Tuttle Capital Management institutionalized.<\/p>\n

Cramer\u2019s \u201cIdiot\u201d Comment\u2019s Aftermath<\/strong><\/p>\n

Today, CNBC\u2019s Cramer continues to get media attention. In September, several Twitter\/X users and analysts reacted to Cramer\u2019s bearish outlook for Bitcoin, saying that a market rally for the top crypto is next.<\/p>\n

Although Cramer\u2019s take is laughable or even frustrating at times, his observations can also help the crypto community move forward. These contrarian opinions and comments remind holders and traders to be careful with narratives and \u201cpraise releases.\u201d Practicing due diligence is always better when trading SOL or other tokens.<\/p>\n

Featured image from CNBC, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Remember the viral statement of Jim Cramer over Solana and other meme coins? In 2022, CNBC anchor Jim Cramer called Solana, Litecoin, and other meme coins \u201cidiot investments.\u201d In a CNBC show dated December 9th, 2022, he added that Dogecoin, Solana, and XRP are \u201ccons\u201d and insisted that people should put their money on stocks […]<\/p>\n","protected":false},"author":0,"featured_media":17490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17489"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17489"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17490"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}