Lawrence Damilola
Mikol, the developer behind the Solana-based meme coin Truth or Dare (DARE), has announced he is stepping away from the project after a dangerous stunt left him hospitalized with third-degree burns.
The meme coin initiative that Mikol spearheaded, Truth or Dare, gained attention as he engaged in live-streamed stunts to boost his cryptocurrency’s value. Over a period of six days, Mikol’s eccentric performances escalated until a stunt involving him covering himself in isopropyl alcohol and being targeted with fireworks by his associates led to a dangerous situation. He inadvertently set himself on fire, resulting in severe third-degree burns over 30% of his body.
Now after recovering from the accident, Mikol said he is quitting the project.
He announced his decision on X.
i’m not dare dev anymore. my name is mikol and i’m human. i just wanna make it out the trenches like you. i just wanna be happy and successful. i just wanna be consistent with god and be a positive human being with an outgoing personality that puts smiles on peoples faces. life…
— Mikol 🔥 (@lonemikol) October 3, 2024
DARE saw a rapid surge following the stunt, with its value increasing by 4,500% to reach a market cap of $1.82 million in just 10 hours. While Mikol was in the hospital undergoing surgery and recovery, the coin’s popularity continued to fluctuate. A second spike occurred when the developer was about to be discharged from the hospital, with DARE’s market cap climbing by another 1,735% to $2.91 million. However, the gains were short-lived, and the coin’s value plummeted by 94% in the following week, leaving the project with a current market cap of just $26,000.
During his recovery, Mikol told Decrypt that he regrets not cashing out when his wallet held $200,000, stating that he did not financially benefit from the project’s brief success. He only received $3,000 in donations from the community to cover medical bills but made no significant profits from the DARE project.
Mikol also revealed that many of his team members abandoned the project after securing their money, leaving him with only two remaining contacts. According to him, the idea for the dangerous stunt came from a close friend, who has not apologized for the suggestion.
Originally, Mikol had ambitious plans for DARE, including the development of a Truth or Dare app and even climbing Mount Everest. However, these plans have since fallen apart along with the project’s team.
He now plans to focus on building his social media presence without resorting to extreme or dangerous stunts.
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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
