PENGUIN Meme Coin Market Cap Surpasses $50 Million, with Over 750% Surge in 24 Hours

BlockBeats News, January 24th, according to GMGN monitoring, data shows that the Solana-based Meme coin PENGUIN saw a significant increase last night and this morning, with a market value surpassing a new high of $50 million, currently at $50.5 million, with a price of about $0.05, representing a 750% increase in the past 24 hours.

This surge may be due to a tweet from the official White House X account expressing "embrace the penguin," followed by Solana co-founder Toly retweeting the tweet and engaging with it. The sentiment around the Solana-based Meme coin quickly heated up. Subsequently, a16z co-founder Marc Andreessen tweeted related content and joined the interaction at 11 AM today.

BlockBeats reminds users that Meme coin trading experiences significant volatility, often driven by market sentiment and hype around concepts. These coins have no real value or use case. Investors should be cautious of the risks involved.