Odaily Planet Daily reports that, according to GMGN data, the meme coin WALLET on Robinhood Chain briefly surged past $50 million in market cap, setting a new all-time high with a daily gain of over 57%, and is currently trading at $46.88 million.
In terms of narrative, on-chain community researchers found that wallets associated with WALLET deployment appear to have fund connections with wallets linked to Robinhood co-founder Vlad Tenev. Additionally, certain addresses showed on-chain activity weeks before Robinhood Chain was officially announced, and some wallet clusters have been pointed to as related to Robinhood product managers. The community has thus amplified this as a potential narrative of a "covert team-linked launch," drawing comparisons to the early trajectory of TIBBIR on Base.
No one from Robinhood, Vlad Tenev, or related parties has confirmed any association with WALLET; the on-chain relationships mentioned above remain speculative by the community.
Odaily reminds you that meme coin prices are highly volatile, and WALLET's current core narrative is based on unverified on-chain associations—please be aware of trading risks.