According to GMGN data, after reaching a market cap high of $151 million, the Robinhood Meme coin (MEME) has continued to decline, with its market cap nearly halved to $78 million and a drop of over 30% in the past six hours. Previously, Robinhood announced that its on-chain stock token DEX trading volume surpassed $3 billion within 63 days, specifically highlighting coverage of over 190 companies including AMC. However, this sparked dissatisfaction from AMC’s CEO Adam Aron, who engaged in a public exchange with Robinhood’s CEO Vlad Tenev and even threatened to ask its securities legal counsel to explore the possibility of pursuing legal action.
Robinhood Meme Coin MEME market cap halves to $78 million, drops over 30% in 6 hours
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Summary
The Robinhood meme coin MEME dropped over 30% in six hours, with its market cap falling from a peak of $151 million to $78 million. The token is among the altcoins to watch, as on-chain stock token DEX trading volume reached $3 billion in 63 days, covering more than 190 companies such as AMC. The surge triggered a public dispute between AMC CEO Adam Aron and Robinhood CEO Vlad Tenev, with Aron hinting at potential legal action.
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