Meme Coin MAGA Market Cap Rebounds to $11 million, Funds Front-run Next Batch of UFO Disclosure Files

BlockBeats News, May 15th, according to GMGN monitoring, the Solana ecosystem Meme coin MAGA saw another surge in market cap last night and this morning, achieving a cumulative increase of about 162% from the low point 3 days ago. The 24-hour increase was 24%, reaching a peak of $13 million, then retracting to $11 million, with a corresponding trading volume of $1.4 million.

The resurgence in the market may be attributed to the market's anticipation of the next batch of UFO-related disclosure files. It has been 8 days since the last round of file releases, and U.S. Congressman Eric Burlison previously stated that "a new batch of files will be released approximately every two weeks," sparking a new round of market expectations.

Since former President Trump announced on April 17th the intention to declassify government files related to UFOs, this Meme coin was once highly sought after by the market. However, the actual content of the first round of files fell short of expectations, leading to a pressure-induced pullback of the token.

As of now, its market cap has retraced about 66% from the high point of $33 million, and market expectations for a boost from the next round of files have significantly cooled. Its market cap may be highly dependent on whether the new batch of files contains substantial disclosures.

BlockBeats reminds users that Meme coin trading is highly volatile, relying heavily on market sentiment and speculative hype, with no real value or use case. Investors should be aware of the risks involved.