mihao's market cap briefly surpassed $20 million, with a 24-hour gain of 2,921%

Odaily reported: According to GMGN data, the market cap of the Solana ecosystem Meme coin mihao (ni hao cat) briefly surpassed $20 million, reaching a peak of approximately $20.98 million, and is now at about $18.81 million, with a 24-hour gain of 2,921%.

Previously, well-known trader Ansem posted bullish views on mihao, believing that it has avatar community attributes that facilitate social spread and contains Chinese elements, which is expected to attract whales from both East and West to buy in together. In addition, the project developer has locked 5% of the token supply for one year.

Ansem stated that ANSEM will be his creator token for this cycle, while mihao is the "pure Meme" he holds, and said the on-chain market has already bottomed out.

Odaily reminds readers that Meme coin prices are highly volatile, and investors should be mindful of market risks.