Dave Portnoy Says ‘Too Many Babies’ in Crypto Market to Launch Another Solana Meme Coin

Barstool Sports founder Dave Portnoy said there are “too many babies” in the meme coin market for him to launch a new Solana token right now. 

On his “Davey Day Trader Global” livestream, the outspoken media personality addressed meme coin traders that he says have flooded his social media with requests for a “GREED3” token, after he launched Solana meme coins named GREED and GREED2 last week. 

“I don’t think I can launch GREED3,” he said. “There’s too many babies for me to launch GREED3… all I get is headaches.”

Portnoy launched GREED last week on popular Solana meme coin launchpad, Pump.fun, purchasing about 36% of the entire supply in the process. 

The coin surged to nearly a $40 million market cap shortly after its launch, but later plunged near zero when Portnoy sold his entire stack in one transaction for approximately $270,000. 

He then put all his gains directly into JAILSTOOL—the meme coin he’s embraced and committed to not selling until it reaches a $1 billion market cap. JAILSTOOL currently has a market cap of around $9 million.

Shortly after dumping GREED, he launched GREED2–-a far less successful sequel playing on the excess embraced by traders in the Solana meme coin trenches. This time, though, he didn’t sell and his publicly doxxed wallet still holds around $11,000 worth of GREED2 tokens. 

Since the launch, the Barstool founder has teased a GREED3 token, indicating that people were “begging for it” while using the hashtag #greed3 multiple times in posts on X (formerly Twitter). 

But based on Portnoy’s comments on his Kraken-sponsored trading show Wednesday, the launch now appears unlikely.

“I wanted to be crypto Caesar… really meme coin Caesar,” he said. “But the people don’t deserve it.” 

Portnoy, who has publicly shared his crypto trading exploits (and missteps) for years, began his most recent meme coin saga earlier this month, doxxing his public wallet and openly sharing meme coin trades on his X page. He later put all his chips behind JAILSTOOL—a token that pokes fun at him being behind bars for his alleged “pump and dump” schemes. 

His public wallet still holds around 50 million JAILSTOOL tokens, valued at $468,000 at the time of writing.

Edited by Andrew Hayward