[Sahil Arora Launches Floyd Mayweather Meme Coin, Market Cap Drops 96% After Reaching $1 Million] Odaily Planet Daily News: Crypto influencer and token promoter Sahil Arora launched the Floyd Mayweather Meme Coin on the Solana ecosystem trading platform Fomo. Floyd Mayweather's social media account had previously promoted the token. The token's market cap peaked at $1 million but dropped 96% within three hours. After Mayweather's social media account promoted the token, the deployer's wallet sold the token and profited $5,000, and the related posts were subsequently deleted. Sahil Arora stated that the process was orchestrated by him, and the narrative of Mayweather missing out on profits drove the token's price increase. Sahil Arora mentioned plans to replicate the operation conducted via Pump.fun in 2024 on Fomo, using new strategies. He also claimed to have profited seven figures through other wallets in the token's trading. On-chain analytics firm Bubblemaps reported that the largest associated wallet cluster profited approximately $105,000, while the top 100 traders collectively profited $306,000, which does not align with Sahil Arora's claimed profit figures. (Decrypt)