Dave Portnoy’s New Meme Coin Went 100,000% But What Is The Best Meme Coin to Buy?

Legendary pizza reviewer and founder of Barstool Sports, Dave Portnoy, has promoted a new meme coin named JAILSTOOL. The meme coin mocking Portnot launched over the weekend and saw its market cap surge by over 100,000% in its first few hours of being live.

The token then mooned to $220 million in market cap once Dave began posting about JAILSTOOL and went on to host a late-night X Space with his 3.5 million followers. It has since dropped to around $75 million in the market as of the time of writing.

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Portnoys JAILSTOOL Lore Began With A Completely Different Token

JAILSTOOL was born after Dave bought and posted about “Montoya por favor,” a coin inspired by a contestant from the Spanish reality show La Isla De Las Tentaciones. He went on to post, “Uh oh. Davey learned how to trade shitcoin and is already up a billion percent on my 1st one!!!!!!”

That coin went to $14 million in market cap before crashing to below $1 million. That didn’t deter Dave, and he posted late on Friday (February 7), “I think I can make a million… on Josh Allen MVP coin.” That post referred to a meme coin named after Buffalo Bills quarterback Josh Allen.

Portnoy did warn his followers, “Buy at your own risk. I just bought it. I’m gonna sell it. Don’t buy what ya can’t lose.” The Josh Allen meme coin briefly hit $12 million in market cap before dying, where it now sits at around $50,000.

Crypto Twitter and Portnoys Audience Accused Him Of Pumping And Dumping

The instant crash of the Montoya and Josh Allen tokens led to Dave receiving a lot of backlash from his community and accusations of market manipulation. Many on X claimed he was dumping tokens after posting and about them, causing their value to rise.

The Barstool founder responded in a video, “I turned like 10 grand total into like 75 grand… I don’t even know what I’m doing with my life. Do you go to jail for this? Can I not do this?”

This is where the JAILSTOOL meme coin was created, and it didn’t take long for Dave Portnoy to jump on that as well. Despite the negativity he was facing, he jumped in on JAILSTOOL.

“I may dump it eventually, but I’ll let all you righteous losers dump on each other first,” he told his X community. In the X Spaces from this weekend, he made it clear that JAILSTOOL wasn’t a long-term investment. He said the plan was to “watch and see how it goes.”

Dave Portnoy Does A U-Turn On Longevity Of JAILSTOOL, Says “$500 Million Or Bust”

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Dave’s spent all of Saturday bull posting about JAILSTOOL, causing a spike in price. One of his posts read, “Here is the deal. If we get #jailstool to #1 trend on Twitter by the next 20 minutes, I’ll stay up. If not, I’m going to bed.”

He was successful, and the community quickly worked to push the hashtag, flooding social media with JAILSTOOL content. In less than 20 minutes, #jailstool was trending number one on X.

Despite his bull posting, Portnoy’s exhaustion began to show. “When do you sleep though? Like I know I keep asking, but I do need to sleep at some point. I have a weak immune system. My only weakness really. Like Samson with his hair,” he tweeted during the late-night session.

With JAILSTOOL continuing to climb in price late Saturday, Dave pleaded with his community not to panic sell. “The Crazy thing about #jailstool is that up until 48 hours ago, I wouldn’t have even known a coin like this existed at this point,” he said.

“So in my mind, we’re still early. I get that everybody has to do what’s right for them, but I feel like if we hold tight until big money can flow in, we all win,” he added.

Barstool Founder Dave Portnoy Fully Behind JAILSTOOL After Dumping More Than $60k From Merch Sales Into The Meme Coin

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As Sunday rolled around, Dave had an early flight and Super Bowl events lined up, but JAILSTOOL was still mooning. By morning on the East Coast, it had briefly surpassed $200 million in market cap. Portnoy assured his audience, “This isn’t a short play. I’m not going anywhere. 500 million market cap or bust.”

As the Super Bowl went down yesterday, Portnoy tweeted, “Just put 20k into #jailstool from merch sales. Before that put 40k into #jailstool after halftime presser. *Don’t invest what you can’t lose.”

He also held another X spaces during halftime of the Super Bowl, where he promised to keep adding his own money to JAILSTOOL until it had a market cap of $1 billion. Time will tell whether Dave rides it to the moon or decides to dump on his followers.

BONUS: Wall Street Pepe (WEPE) Launches Soon After Raising Over $70m – Promising To Be One Of The Top Meme Coins In 2025

Wall Street Pepe’s (WEPE) presale has raised officially raised over $70 million and sold out as a result. It will become one of the biggest meme coin presales in history.

Last week saw over $7 million in fresh capital, reflecting the growing FOMO among investors as the timer began ticking down to launch. The prices seen during its presale will likely never be seen again for WEPE as its launch is now around the corner and a potential tier-1 exchange listing with it.

The reason behind such crazy hype for Wall Street Pepe is the team’s goal of uniting smaller net-worth retail traders via a private trading group to counter whale manipulation. Those holding WEPE will have access to the inside alpha, tried and tested trading strategies, and even trading calls.

Join the community on X and Telegram for the latest updates on the WEPE launch. Wall Street Pepe is truly gearing up to become the blue-chip meme coin play of 2025.

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