The token literally called “A Meme Coin,” launched on Robinhood Chain and loosely associated with AMC Entertainment, has cratered after one of the more chaotic debut weeks in recent memecoin history. The coin’s price fell over 55% in a single 24-hour stretch, extending a broader collapse that has now erased roughly 79% from its intraday peak.
At its high point, the token traded between $0.13 and $0.1585. By September 5, it was sitting around $0.038, a level that makes the initial euphoria feel like a fever dream.
From $3 million to $150 million and back
“A Meme Coin” launched on September 3, 2026, on Robinhood Chain, the blockchain platform Robinhood rolled out in July 2026 to support tokenized equities and 24/7 trading. The token has a total supply of 1 billion.
Within hours of going live, the market cap rocketed from approximately $3 million to nearly $150 million. After peaking, the token gave back the vast majority of its gains in a swift retracement. Trading volume remained elevated, fluctuating between $70 million and $150 million even as the price cratered. The market cap settled around $40 million after the dust cleared.
The Aron-Robinhood feud that lit the fuse
What made this launch particularly combustible was the public spat between AMC Entertainment CEO Adam Aron and Robinhood executives. Shortly after the memecoin appeared, Aron publicly criticized Robinhood’s tokenized AMC product, labeling it “contemptible” and requesting its termination, and threatened legal action against the brokerage platform. In response, Robinhood executives defended the legality of the product.
AMC has been a magnet for retail speculation since the original meme stock saga of 2021, when coordinated buying on social media platforms sent its share price to levels that had no relationship to its fundamentals.
Robinhood Chain’s growing pains
The episode also raises questions about Robinhood Chain’s positioning in the broader crypto ecosystem. The platform launched in July 2026 with the promise of bringing traditional financial assets on-chain, enabling round-the-clock trading of tokenized equities.
Robinhood Chain didn’t create “A Meme Coin” or endorse it. Blockchains are permissionless by design, meaning anyone can launch a token.
What this means for memecoin traders
The elevated trading volume, still ranging between $70 million and $150 million even after the collapse, suggests the coin hasn’t fully died. With the market cap now around $40 million and price near $0.038, “A Meme Coin” sits at a crossroads.