Meme Update: US Stock Meme Squeeze Narrative Cools Off, Meme Coin Hype Suspected of "Pump and Dump"

BlockBeats News, September 3rd, the recent Meme market continued to revolve around the Robinhood Chain and BSC hotspots, with PONS, microduck, and other high-volume targets maintaining their strength. New coins HOTDOG and PROLOGUE also quickly gained fund attention; meanwhile, FLORK on BSC continued to surge, becoming one of the Meme targets with high on-chain trading activity.

In addition, a coin-stock Meme farce that occurred last night has attracted high community attention, leading to a typical same-name token hype event around the Robinhood Chain. Initially, the market quickly heated up due to KOL Rune's concept of "acquiring a NASDAQ small-cap stock and tokenizing it on-chain." The community then shifted its focus to Farmmi (stock code FAMI) and drove the on-chain namesake token FAMI and related token JINQIAN to a rapid surge. JINQIAN surpassed a market cap of around $70 million within an hour, while on-chain FAMI also briefly surged to around $100 million, and at the same time, Nasdaq-listed FAMI's stock price also skyrocketed by over 300% intraday.

However, the on-chain FAMI is not the official stock token of Robinhood. At the peak of the Meme hype, Rune stepped forward to say that the acquisition post was something he had Claude write as "AI slop," with the numbers being fabricated and exaggerated. The two on-chain coins were not deployed by him; someone copied his idea, launched their own coins, and formed a pool, causing both Meme coins to flash crash, and the US stock's stock also flash crashed and fell back.

On the Robinhood Chain, PONS continues to maintain its position of strength, with its market cap hitting a new high of $530 million at one point. The Meme coin's price is currently trading at around $0.499, with a market cap of around $499.7 million, a 24-hour increase of about 19.96%, and a 24-hour trading volume of around $81.3 million.

microduck continues to show strength, with the price currently trading at around $0.0396, a market cap of around $39.66 million, a 24-hour increase of about 49.83%, and a 24-hour trading volume of around $17.7 million.

The new coin HOTDOG is also quickly rising, with the Meme coin's price currently trading at around $0.00639, a market cap of around $6.39 million, and a 24-hour trading volume of approximately $9.6 million. The core narrative of HOTDOG revolves around the "1.50 Dollar Hot Dog," borrowing the meme of Costco's classic hot dog combo not raising prices for a long time and packaging it as a consumer brand Meme on the Robinhood Chain.

Furthermore, PROLOGUE on the Robinhood Chain has also received funding attention, with the token price currently at around $0.00934, market cap at around $9.34 million, 24-hour price change of approximately 118.3%, and a 24-hour trading volume of around $6 million. PROLOGUE is the prelude token associated with Fables, and Fables is the ve(3,3) DEX based on Uniswap v4 on the Robinhood Chain. The market narrative mainly revolves around the expected exchange of future governance tokens.

On the BSC network, FLORK has benefited from being listed on Binance Alpha and continues to surge. The token price is currently around $0.0201, market cap at around $20.11 million, 24-hour price change of approximately 141.6%, and a 24-hour trading volume of around $15.5 million.