Before the hearing, Musk engaged in high-intensity posting on Twitter, causing a 40% temporary surge in the market value of the meme coin SCAM.

BlockBeats News, April 28th, according to GMGN monitoring, on-chain Meme coin SCAM on Solana surged 40% within 1 hour, briefly hitting $20 million, reaching a new all-time high, and now retracing to $15 million, with a 24-hour trading volume of $37.6 million.

On the news front, the Musk v. OpenAI case has completed jury selection and is set to officially start the trial on Tuesday local time, usually at 9:00 am in court (12:00 am on April 29th Beijing time). Outside the court, Musk today on X social media platform tweeted and commented multiple times referring to OpenAI CEO Sam Altman as "Scam Altman." Recent replies include tweets with negative remarks about Sam Altman in the past hour.

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