BlockBeats report, March 6: According to GMGN monitoring, the Solana ecosystem meme coin "My Knife and Shield" saw its market cap rise from $1.8 million today, peaking at $6.6 million, and is currently reported at $5.6 million, with a 24-hour increase of 240%. Trading volume over the same period reached approximately $4.9 million, and the token has been live for six days. It is the first Chinese-narrative meme coin on Solana to reach a million-dollar market cap recently.
On-chain trader Cowboy bought a $740 position when the meme coin’s market cap was approximately $290,000, and the current unrealized return has reached 1900%, with total profits now around $7,930 after selling a portion.
The BSC-chain meme coin with the same name, "My Sword and Shield," recorded a 57% price increase over 24 hours, with a market cap of only $500,000 and a trading volume of approximately $360,000 during the same period; the token has been listed for about 28 days.
BlockBeats reminds users that Meme coins exhibit extreme price volatility, largely driven by market sentiment and speculative hype, with no real value or use case—investors should be aware of the risks.