Meme Coin ELON's Market Cap Soars to $14 Million Briefly Before Massive Sell-Off, Market Cap Currently Stands at $4.5 Million

BlockBeats News, January 30th, according to GMGN monitoring, driven by Bybit's listing of the Aptos ecosystem token Echelon (ELON), the related Bybit trading platform contract is 10000 ELONUSDT, currently priced at around $0.000388, with no significant price increase, and a 24-hour decline of about 5.8%.

In addition, the Solana-based meme coin ELON experienced a rapid surge, with its market value briefly reaching $15 million, but it failed to break through its previous high and then fell sharply. Currently, its market value is around $4.5 million, with a price of about $0.0045. On-chain data shows that the average buy-in cost of the top 100 addresses is about $0.0044.

BlockBeats reminds users that meme coin trading is highly volatile, heavily reliant on market sentiment and meme trends, without actual value or use case. Investors should be aware of the risks.