Space Dog ASTEROID Fades Away: Solana Hits New All-Time High, Can Ethereum Community's Early Hundred-Dollar Donations Support a $1.2 Billion Market Cap?

BlockBeats News, May 13th, according to GMGN monitoring, on-chain space dog on Solana, ASTEROID, surged again this morning, with a peak market capitalization exceeding $18 million, currently at $15 million. Against the backdrop of a continuous price increase, the price of ASTEROID on the Ethereum chain has been declining during the same period, down 38% on a weekly basis, but the market cap remains high at $120 million.

Meanwhile, the controversy on social media has intensified, focusing mainly on: on the Ethereum chain, cashing out early small donations after a recent substantial token appreciation without providing substantial help to the girl. Can this charitable narrative support a market cap of over a billion U.S. dollars?

It is reported that in the early days of the token issuance in 2024, the Ethereum community was allocated approximately 0.5% of the total supply (about 21 billion tokens). However, the token remained in a slump before the girl's passing (January 26, 1 year ago), with the market value of the holdings at that time at only about $100, and the donations were minimal.

Recently, benefiting from the Musk effect and the dual catalyst of the SpaceX mascot concept, ASTEROID's market value soared due to its "OG Elder" status. The aforementioned early token was subsequently sold for $676,000, and the proceeds were donated to St. Jude Children's Research Hospital. Some critics believe that although this action aligns with the girl's wishes, it did not provide substantive help to the girl during her lifetime.

Currently, the Solana community continues to donate directly to the foundation established by the girl's mother through transaction fees, with donations reaching $270,222 as of the time of writing. There are no new substantial charitable initiatives follow-up from the Ethereum community. The uniqueness of its charitable narrative is being continuously diluted by the Solana community's ongoing actions. Under the dual endorsement of Musk's personal influence and the SpaceX mascot, it remains the core anchor supporting the high market value of ASTEROID on the Ethereum chain.

BlockBeats reminds users that Meme coin trading is highly volatile, relies heavily on market sentiment and concept hype, has no actual value or use case, and investors should be aware of the risks.