ChainCatcher report: According to GMGN monitoring, the Solana-based meme coin Scam Altman (SCAM) briefly surpassed a $10 million market cap within eight hours of launch, then slightly retraced to $9.82 million, with trading volume reaching $19.6 million. This morning, Musk posted multiple times on X referring to OpenAI CEO Sam Altman as "Scam Altman," accusing him of appropriating the成果 of charitable projects to acquire billions of dollars in stock. ChainCatcher reminds users that meme coins exhibit extreme volatility, largely driven by market sentiment and speculative hype, with no intrinsic value or practical use case. Investors should exercise caution and be aware of the risks.
Solana meme coin scam surpasses $10 million market cap in 8 hours
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Summary
A Solana-based meme coin, Scam Altman (SCAM), briefly reached a $10 million market cap within eight hours of its launch, with trading volume hitting $19.6 million. It later declined to $9.82 million. The coin’s name originates from Elon Musk’s recent X posts referring to Sam Altman as “Scam Altman.” ChainCatcher warns that meme coins are highly volatile and driven by hype. Traders are advised to closely monitor altcoins, given their high trading volumes and unpredictable nature.
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