On January 26th, Dubai venture capital company IBC Group's founder and CEO Mario Nawfal posted on social media that he had purchased $50,000 to support the meme coin MARIOCTO of the same name, and when the token reaches a market value of $500 million, he will airdrop all of it to the top 100 active community members on X.

Previously, Mario Nawfal announced that he had destroyed the MARIO tokens airdropped to his wallet, which were worth $7 million at the time of destruction. As of the time of writing, according to GMGN quotes, the market value of MARIO tokens issued has exceeded $25 million in 8 hours, with a trading volume of over $51.6 million.