Japan prime minister Sanae Takaichi disavows Solana meme coin after it crashes by 75%

Japan’s premier curate says she has nary cognition of oregon engagement successful a Solana-based meme token that concisely reached a $27.7 cardinal marketplace headdress earlier tumbling.

Mar 3, 2026, 10:24 a.m.

Japan’s economical information curate Sanae Takaichi said she has “absolutely nary knowledge” of a Solana-based meme token bearing her name, aft the cryptocurrency concisely surged to a marketplace capitalization of astir $30 cardinal million.

“I person heard that a cryptocurrency called SANAE TOKEN has been issued and is being traded to immoderate extent,” Takaichi wrote connected X. “Due to the name, it seems determination are assorted misunderstandings, but regarding this token, I person perfectly nary cognition of it, nor has my bureau been informed astir what this token entails. We person not fixed immoderate support whatsoever successful this matter.”

Her connection came aft the token reached a marketplace capitalization of $27.72 cardinal earlier falling backmost to astir $6 million. Onchain information cited by Wu Blockchain showed that the apical 3 addresses held astir 60% of the token’s supply, with respective starring wallets signaling notable inflows.

This is not the archetypal clip a memecoin inspired by a governmental fig has caused a stir, with the LIBRA token initially framed arsenic being backed by Argentina president Javier Milei, starring to governmental turmoil.

Takaichi said she issued her connection “to guarantee that the nationalist does not labour nether immoderate misapprehensions,” distancing herself and her bureau from the project.

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