meme coin's market cap plummets to $4 million, now rebounds to $7.6 million

BlockBeats News, January 21st, according to GMGN market data, the market value of a new Meme coin, "memes," in the BSC ecosystem plummeted to 4 million USD in the short term, and it has now rebounded to 7.6 million USD, with a 24-hour trading volume rising to 47.4 million USD. Previously, the market value had once surged above 27.8 million USD.

It is reported that "memes" originated from a tweet released earlier today by the White House official account stating, "The winning will continue. The deportations will continue. The memes will continue." After Binance CEO He Yi retweeted the tweet, a sharp rise began. Currently, He Yi has deleted the retweet, which may have been the direct cause of the meme coin's sharp decline.

BlockBeats Note: Meme coins have huge trading fluctuations, rely heavily on market sentiment and concept hype, have no actual value or use case, and investors should be aware of the risks.