HuoXing Finance reports that on September 4, according to GMGN market data, following a pre-market decline in AMC’s U.S. stock price, the highly popular token MEME, which had reached a market cap of over $100 million in a single day, has seen a significant pullback, currently trading at $91.13 million. As a result, the chain-snatching effect from Robinhood has weakened, and major cryptocurrencies have rebounded notably: CASHCAT’s market cap is currently at $284 million, up 6.34% in the past hour; PONS’s market cap has surpassed $740 million, setting a new all-time high, with a 10.19% increase in the last hour.
Meme token decline seen as Robinhood Chain impact fades, mainstream coins rebound
MarsBitShare
Summary
On-chain data shows the meme token MEME dropped sharply on September 4 following a pre-market decline in AMC stock. The siphoning effect from the Robinhood chain is fading, allowing mainstream cryptocurrencies to recover. On-chain analysis reveals that CASHCAT and PONS surged, with CASHCAT rising 6.34% in one hour to a market cap of $284 million. PONS reached $740 million, a new all-time high, with a 1-hour gain of 10.19%.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.