FAMI and JINQIAN short-term prices drop over 50%

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On-chain data shows that FAMI and JINQIAN have both dropped over 50% in a short period, with current market caps of approximately $32 million and $35 million, respectively. This decline coincides with trader Rune’s recent plan to tokenize low-cap Nasdaq stocks and launch meme coins. Rune has acquired 37.4% of a publicly listed company for $1.8 million, with the goal of tokenizing its shares on Robinhood Chain. Altcoins to monitor may include those associated with such tokenization initiatives, although a direct connection to Rune’s plan remains unconfirmed.

GMGN market data shows that FAMI and JINQIAN have both dropped over 50% in the short term, with current market caps of approximately $32 million and $35 million, respectively.

The market is paying attention, possibly in connection with Rune’s recently disclosed plan for “tokenization of low-market-cap Nasdaq stocks + meme coins.” Rune stated that he has spent approximately $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company and plans to tokenize the associated equity on Robinhood Chain, while also launching a meme coin paired with the tokenized stock. It is currently unconfirmed whether the token is directly linked to Rune’s stated plan.

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