N3on promised ‘up, up, up’ memecoin without any risk — it’s down 96%

Rangesh Mutama, a social media streamer who goes by the alias “N3on,” tried to salvage his reputation this week by giving away luxury merchandise to a crowd of fans.

However, it failed to impress anyone who followed his calamitous memecoin on Iggy Azalea’s Solana-based Pump.fun competitor, Thrust.

Incredibly, Thrust’s homepage still features N3on’s eponymous token front and center on its homepage, despite it being down 96% from its first-day high.

Meteora, N3ON’s first on-chain exchange listing, listed it for trading on November 12, 2025. After a suspicious pre-sale that allowed vanishingly few fans to participate, the coin hit an all-time high market capitalization of $38 million within minutes of launch.

N3ON has declined in price ever since. Indeed, it has lost value every single week since launch without exception.

N3on’s performative goodwill this week of in-person giveaways alongside Adin Ross and other streamers doesn’t undo his prior misconduct. Some critics claim that he promised gains to tokenholders.

‘Without any risk,’ N3on clip promises ‘up, up, up’

That claim cites a TikTok video clip of N3on on November 11, in which he announces and promotes its launch on Thrust.

Read more: CHART: Returns of memecoins attributed to CZ since leaving prison

“I’m gonna make sure that my coin is one of the best coins to ever be in this,” N3on exclaimed.

He continued, “No rug-pulls. Every single person that watches makes money, day by day, you just see your thing go up, up, up, up, up, and it never goes down, you just continue to make money.

“And I’m gonna do it for my community, I’m gonna do it for my people, and I’m gonna make sure all you keep living in the proper way, without any risk, without worrying if I’m gonna f*** anyone over.”

Hundreds of commenters questioned how he could make such outrageous guarantees. Those user-generated warnings were certainly prescient.

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