BlockBeats news, on May 12, according to GMGN data, ASTEROID on the Ethereum chain fell over 9% in 24 hours, with its market cap retreating to $130 million and a 24-hour trading volume of $15.7 million.
It is reported that the narrative behind the meme coin ASTEROID originates from 15-year-old girl Liv Perrotto, whose greatest wish in life was to meet Musk and who helped design a Shiba Inu toy named "Asteroid." After her passing, her mother publicly wrote a letter requesting Musk’s attention, a message later amplified and revisited by prominent media personality Glenn Beck on his show. On April 19, Musk agreed to make Asteroid the official mascot of SpaceX.
Earlier today, Marc, the cryptocurrency donation coordinator for St. Jude Children’s Research Hospital, disclosed that the team has completed a phased exit from all ASTEROID-related assets received as donations. Initially, approximately 0.5% of ASTEROID tokens were donated to the institution’s ETH wallet and held long-term due to the lack of an immediate fiat conversion pathway. The position has now been fully converted into approximately 290 ETH, valued at around $676,000, which will support the hospital’s medical and research initiatives.
BlockBeats reminds users that meme coins exhibit extreme price volatility, largely driven by market sentiment and hype around concepts, with no real value or use case—investors should be aware of the risks.