Funds Reallocation in Meme Coin "Customer Service Xiaohe" Sees 550% Surge in Two Days, Market Cap Temporarily Nearing $10 Million

BlockBeats News, June 9, according to GMGN monitoring, the BSC Chinese Meme coin "Customer Service Xiaohe" started to rise on June 7. At that time, its market value was about $1.5 million. This morning, it surged and briefly approached $10 million, with a cumulative increase of over 550% in two days. It is now trading at $7.5 million, with a 24-hour trading volume of $8.1 million.

Its rise also led to a collective increase in low-market-cap Chinese Meme coins in the BSC ecosystem, with several tokens recording over 50% gains during the day.

It is worth noting that this round of gains did not come with any significant positive news. Considering the leading token "Binance Life" set a new high market value of $900 million on June 7 and then fell sharply by 25%, it appears that this market trend is a rotation of funds within the BSC ecosystem after the retreat of the leading token, with low-market-cap projects receiving overflow capital.

BlockBeats reminds users that Meme coins are highly volatile, rely heavily on market sentiment and speculative frenzy, have no actual value or use case, and investors should be aware of the risks involved.