- Rangesh Mutama, known as “N3on,” hosted giveaways to improve his public image amid controversy.
- The memecoin named N3ON on Thrust has lost 96% of its value since launch.
- N3ON’s token debuted on November 12, 2025, with an initial market cap of $38 million.
- N3ON’s price has declined every week since launch without exception.
- Critics highlight a promotional video where N3on promised investors risk-free gains and continuous price increases.
Rangesh Mutama, a social media streamer using the alias “N3on,” attempted to restore his reputation by giving away luxury merchandise to fans this week. The giveaway took place alongside other streamers such as Adin Ross. This effort came amid ongoing criticism about a digital token he promoted.
N3ON is a memecoin launched on Thrust, a competitor token trading platform linked to Solana and promoted by Iggy Azalea’s project Pump.fun. The token is still prominently displayed on Thrust’s homepage, despite having lost 96% of its value since its peak on launch day.
The token began trading on November 12, 2025, through Meteora, an on-chain exchange listing. Following a presale that reportedly limited participation, the memecoin quickly reached a market capitalization of $38 million minutes after launch. Since then, the token’s price has dropped consistently every single week.
N3on’s recent public giveaways have drawn attention, but critics argue these actions do not mitigate earlier issues. Some accuse him of having promised guaranteed returns to tokenholders. A clip from November 11 shows him promoting the token on Thrust. In the video, N3on states, “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…” He adds, “…without any risk, without worrying if I’m gonna f*** anyone over.”
This video generated hundreds of critical comments questioning the validity of such promises. User warnings have proven accurate as the token’s value has steadily declined.
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