Meme Coin JINQIAN Drops Over 70% From High, Recovers to $4.2M

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The meme coin JINQIAN, one of the altcoins to watch, dropped over 70% from its peak to $2.05 million on September 2 before rebounding to $4.2 million. On-chain data shows the earlier surge was triggered by a tweet from crypto KOL Rune, who claimed to have acquired a majority stake in a NASDAQ-listed company. Rune mentioned plans to tokenize the equity on Robinhood and pair it with a meme coin, though no tokens have been claimed. BlockBeats warns of high volatility and regulatory risks.

BlockBeats report, September 2: According to GMGN market data, the Robinhood chain meme coin JINQIAN briefly dropped to $20.5 million, falling over 70% from its peak, and has since rebounded to $42 million.


JINQIAN's surge may be related to a tweet posted by crypto KOL Rune (@RuneCrypto_) on September 1, in which he announced, "I have acquired a majority stake in a Nasdaq-listed company with a short interest of 92.3% and $6.2 million in liabilities. I am tokenizing the equity on the Robinhood chain—and then I will pair a meme coin with the tokenized stock." Rune has not claimed any tokens yet, and this event carries regulatory risks.


BlockBeats reminds users that the prices of related tokens are highly volatile; please invest with caution.

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