Robinhood Meme coin MEME market cap drops below $60 million, down over 49% in 6 hours

Odaily News According to GMGN data, after hitting a market cap high of $151 million, the market cap of Robinhood Meme coin MEME has continued to decline and has now fallen below $60 million, currently reported at $58.72 million, a 49.04% drop in 6 hours.

Robinhood previously announced that its on-chain stock token DEX trading volume exceeded $3 billion within 63 days, specifically mentioning coverage of more than 190 companies including AMC. However, this subsequently drew dissatisfaction from AMC CEO Adam Aron, who engaged in a war of words with Robinhood CEO Vlad Tenev, even threatening to request his securities legal counsel to study the possibility of taking legal enforcement measures.

Odaily reminds users that Meme coin prices are highly volatile, and investors should participate with caution.