Robinhood Meme Coin MEME Market Cap Drops Below $40 Million, Falling Over 70% in 6 Hours

Odaily News, according to GMGN data, after reaching a market cap high of $151 million, the Robinhood Meme coin MEME's market cap has continued to decline, now falling below $40 million and temporarily reported at $36.71 million, dropping over 70% in 6 hours.

Robinhood previously announced that its on-chain stock token DEX trading volume surpassed $3 billion within 63 days, specifically mentioning coverage of over 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.