BONER, a stock-meme token on the Robinhood chain, climbed to a $70 million market cap within three days of launch before falling back to $53.56 million, according to GMGN market data cited by BlockBeats on Sept. 1.
Top wallet shows a $1.728 million paper gain
Data cited in the report shows the largest BONER-holding address belongs to crypto KOL eric (@econoar) on the fomo platform. He started building the position when BONER’s market cap was $170,000.
Eric has invested a cumulative $26,800 in the token, with an average buy price corresponding to an $826,000 market cap. BlockBeats said he was still making small BONER purchases earlier in the day. His unrealized profit now stands at $1.728 million.
Limited HIMS supply cited in the move
Some analysis said BONER’s rapid market-cap expansion may be tied to limited circulation of HIMS, the stock token paired with it, on the Robinhood chain. As of last Friday, on-chain HIMS circulation was only about 15,000 tokens.
Under that logic, continued BONER buying pushed the pair higher while the pool absorbed a large share of on-chain HIMS inventory. That drove HIMS sharply away from the price of the actual stock, with the token at one point trading at a 2x premium, which then fed back into BONER’s advance.
How BlockBeats describes the stock-meme structure
BlockBeats noted that stock meme tokens combine the structure of traditional meme coins with tokenized U.S. equities. Instead of pairing with USDT or ETH, these meme tokens trade directly against on-chain stock tokens such as NVDA, TSLA, and AAPL.
The model keeps the high-volatility, community-driven speculative traits of meme coins while attaching them to the heat and narrative of real stocks. BlockBeats added that part of the trading fees often flows back to a community treasury to accumulate the corresponding stock tokens, creating what it described as a dual-driver setup of sentiment speculation and real-asset anchoring.