BSC-based Chinese meme coin project Niulai extended its rally on Aug. 27, with data tracked by GMGN showing the token up 45% over the past 24 hours. Its market capitalization briefly reached $59 million before easing back to around $57 million, while the token was quoted at $0.0575 at the time of the update. Trading activity on-chain also picked up sharply within the past hour. GMGN data showed roughly $2 million in one-hour volume and $14 million in 24-hour volume. Niulai had previously reached an all-time high market capitalization of $78 million. BlockBeats added a risk note, saying most meme coins do not have practical use cases and can see large price swings, and reminded users to approach such trades cautiously.
BlockBeats reported on Aug. 27 that GMGN tracking data showed continued gains for Niulai, a Chinese meme coin project in the BNB Smart Chain (BSC) ecosystem.
The token was up 45% over the past 24 hours. Its market capitalization briefly touched $59 million before pulling back slightly to $57 million, with the price quoted at $0.0575.
On-chain trading activity also increased over the past hour. Niulai posted about $2 million in one-hour trading volume and $14 million in 24-hour volume, according to the update. The project had previously reached a record market capitalization of $78 million.
BlockBeats noted that meme coins often lack practical use cases and can be highly volatile, and reminded users to be cautious with investments.
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