GMGN market data showed on Aug. 16 that Niulai, a meme token on BNB Chain, briefly saw its market capitalization fall below $14 million. The token was later quoted at $14.02 million, down more than 51% from its peak. BlockBeats said the move was visible on GMGN and noted that many meme coins do not have practical use cases. It also reminded users that this segment is highly volatile and that trading involves elevated risk. The report did not provide additional on-chain data or a broader timeframe beyond the cited snapshot.
Niulai, a meme token on BNB Chain, briefly dropped below a $14 million market capitalization on Aug. 16, according to GMGN market data cited by BlockBeats.
The token was later quoted at $14.02 million, down more than 51% from its peak. BlockBeats added that many meme coins lack practical use cases and said users should be cautious because price swings in the sector can be sharp.
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