A Step-by-Step Guide to Buying $JAILSTOOL

The cryptocurrency space has seen a surge in meme coins, which recently totaled over 10 million creations. The latest to make a trend is $JAILSTOOL. It has received endorsements from high-profile figures like Dave Portnoy, who is also its primary promoter.

This article provides a comprehensive guide detailing the origin, mechanics, and steps to buy $JAILSTOOL.

The Story Behind $JAILSTOOL

$JAILSTOOL (Stool Prisondente) emerged as a meme coin on the Solana blockchain, gaining significant attention on the 7th of February, 2025. It was inspired by a playful jab at Dave Portnoy, the founder of Barstool Sports, referencing his hypothetical imprisonment for his notorious involvement in meme coin trading.

This was a humorous take on the controversies surrounding memecoin trading, particularly regarding Portnoy's history with previous coins where he was accused of engaging in pump-and-dump schemes.

His involvement with tokens like SafeMoon and others in May 2021 and more recent activities earlier in February 2025 ("Josh Allen MVP coin" and others) have made headlines, and he is often criticized for using his influence to manipulate markets for personal gain.

However, with his large social media following and influence in traditional media and (lately) cryptocurrency, Dave Portnoy played a critical role in propelling $JAILSTOOL into the spotlight by expressing support. He even vowed not to sell his holdings, announcing $1 as his target price.

Facts. And regardless of what I do I will continue to root for #JAILSTOOL and honor every commitment I made. It goes to 200 million market cap again I’ll dump 100k into it. I won’t sell a dime till 1 billion. I’m still holding it all. Coulda sold at 6 million. Didn’t. Just… https://t.co/ohqVgDIiO3 pic.twitter.com/ybqKppiUDb

— Dave Portnoy (@stoolpresidente) February 10, 2025

This endorsement and a surge in community interest increased the attention and sentiment surrounding $JAILSTOOL as a memecoin.

His promotion included a series of posts on X (formerly Twitter) and late-night discussions, which significantly drove the coin's visibility and demand. Platforms like X, Reddit, and TikTok have become arenas for discussions, memes, and speculative trading.

Portnoy's recent activities, in which he openly discussed his trading strategies and even hinted at his actions' legality further stirred the pot.

Understanding $JAILSTOOL

$JAILSTOOL is built on the Solana blockchain, known for its high throughput and low transaction fees. The coin was marketed with no presale, team allocation, or roadmap, purely banking on the virality and Portnoy's endorsement.

Its unique tokenomics model seeks to harness community enthusiasm for growth. It relies heavily on social media engagement and meme-driven hype rather than traditional development plans. There are no technological propositions beyond this.

This approach, combined with humor and the allure of quick gains, drew in a massive number of investors and traders. As of February 2025, $JAILSTOOL has amassed over 87,000 holders and continues to see rising interest.

Market Performance

The coin experienced a massive surge, with its value increasing by 110,000% in just a few hours after Portnoy's endorsements. Its market cap peaked at over $238 million.

This was driven by community hype and Portnoy's social media influence. He even promised not to sell until the market cap reached $1 billion, initially vowing to hold his tokens to support the community.

However, Portnoy's actions were inconsistent; he later admitted to accidentally selling some tokens but quickly repurchasing them, which added to market uncertainty.

This volatility was starkly evident when the coin saw a dramatic crash. Reports indicate a 57% plunge in a single day, with the token losing over 1000% of its value within an hour, reducing its market cap to around $35 million.

This particular fluctuation was attributed to Portnoy's mixed signals about his holding strategy, general market speculation, and the inherent risks of meme coins.

Despite these fluctuations, $JAILSTOOL remains a topic of discussion, with its community actively engaging on platforms like X and TikTok, and its price continues to capitalize on this attention.

Top Exchanges to Buy $JAILSTOOL

Since you are interested in buying the mem coin, several platforms offer access to this token.

Although there are many ways to buy the token, we will discuss the most accessible ones: the decentralized and centralized exchanges.

• Decentralized Exchanges (DEX):

  • Raydium and Pump.fun are the cream of DEX to buy $JAILSTOOL.

  • Features: Trading on DEX platforms allows for transactions without needing KYC verification. Users can connect through non-custodial wallets like Phantom, Solflare, or MetaMask that support Solana (SOL) blockchain assets, including $JAILSTOOL.

• Centralized Exchanges (CEX):

  • Kraken, MEXC, Bitget, and OKX are examples of CEXs with $JAILSTOOL listed. Bitget was the latest to be announced on February 10.

Source: Bitget on X

• Features: These platforms typically require account creation and completing KYC procedures, ensuring compliance with regulatory standards.

How to Buy $JAILSTOOL - Step-by-Step Guide

Investing in $JAILSTOOL requires a systematic approach to ensure security and compliance with platform requirements.

In this section, we outline the process for purchasing $JAILSTOOL through both centralized and decentralized exchanges.

Note: Our guide emphasizes the importance of verifying details at every step to safeguard your investment. The steps are also general to the two kinds of exchange.

Decentralized Exchanges (DEX)

• Step 1: Set Up a Wallet

If you don't already have it, download and set up a non-custodial wallet.

• Step 2: Fund Your Account

Transfer SOL into your connected non-custodial wallet. Ensure you have enough SOL to purchase $JAILSTOOL and cover transaction fees associated with the swap.

• Step 3: Connect to the DEX

  • Go to your preferred DEX, Raydium, or Pump.fun.

  • Click on [connect wallet], usually at the top right corner, and select Phantom Wallet from the list. Then, confirm the connection in your wallet.

Source: Raydium

Source: Pump.fun

• Step 3: Choosing Tokens

  • Input Token: Select SOL as the token you are swapping from.

  • Output Token: You'll need to find $JAILSTOOL. If it's not immediately visible, you might need to paste the token's contract address or search for it by name.

On Raydium, click the output token button and search for it by name or, preferably, enter the token's contract address.

Source: Raydium

You can search for it by name on Pump. fun, but it is preferable that you enter the token's contract address.

Source: Pump.fun

• Step 3: Executing the Trade

  • Enter the amount of SOL you wish to exchange for $JAILSTOOL in the input field.

  • Verification of Contract: Verify the official contract address for $JAILSTOOL to avoid interacting with fraudulent tokens. (AxriehR6Xw3adzHopnvMn7GcpRFcD41ddpiTWMg6pump)

  • Transaction Review: Double-check the swap details, including estimated fees and the amount of $JAILSTOOL you will receive, then confirm the transaction.

Centralized Exchanges (CEX)

• Step 1: Set Up an Exchange Account

  • Sign up for an account on one of these exchanges.

  • You'll need to go through a KYC (Know Your Customer) process, which involves submitting identification like a passport or driver's license.

• Step 2: Fund Your Account

Deposit funds into your account. You can use bank transfer, credit/debit cards, or directly deposit other cryptocurrencies like USDT or SOL.

• Step 3: Execute the Trade

  • Navigate to the trading section for $JAILSTOOL. Look for trading pairs like JAILSTOOL/USDT or JAILSTOOL/SOL.

  • Decide if you want to place a market order (immediate execution at the current price) or a limit order (execution at a specified price).

  • Carefully review the order details, including fees and estimated execution time, before finalizing the trade.

Risks and Safety Tips

Investing in $JAILSTOOL, or any meme coin, carries inherent risks that we must consider:

• Scams: Always confirm the official contract address of $JAILSTOOL using reliable, official sources. Interacting with unverified addresses significantly increases the risk of scams.

• Liquidity: Check the trading volume to ensure there's enough liquidity. Low liquidity can lead to significant slippage, where the price you pay can be much higher than expected due to fewer market participants.

• Pump-and-Dump Risk: Meme coins, including $JAILSTOOL, are particularly susceptible to pump-and-dump schemes. In these schemes, the price is artificially inflated before insiders sell-off, leaving late investors with losses.

Dave Portnoy's influence and history might keep some investors hopeful, but it doesn't eliminate the risk of other large holders dumping their tokens.

Recommended Safety Practices

• Regardless of the platform chosen, verifying the official contract address for $JAILSTOOL is crucial. Official announcements from exchanges and the token’s development team can serve as reliable sources for verification.

• Verification of Receipt: Use a blockchain explorer to confirm that your $JAILSTOOL tokens have been correctly credited to your wallet.

• Transfer to a Private Wallet: After purchasing $JAILSTOOL, it's wise to transfer your tokens out of the exchange wallet. Cold wallets, like Phantom, Trust Wallet, or Metamask, are good.

• Diversify: Don't put all your funds into one token, especially one as volatile as $JAILSTOOL.

Final Thoughts

While the narrative surrounding $JAILSTOOL is compelling, it is important to approach such investments cautiously. The meme coin market is unpredictable. The same factors that contribute to its rapid rise—endorsements, social media buzz, and community engagement—also add to the coin’s inherent volatility. Keep an eye on developments, stay informed, and perhaps enjoy the ride this meme coin might take you on.