According to GMGN market data, the market cap of BRIAN, a meme coin on Base, fell more than 80% in a short period after Coinbase CEO Brian Armstrong changed his profile picture on X again. The token was last quoted at $1.2 million in market cap. Odaily noted that meme coins tend to show sharp price swings, are often driven by market sentiment and trending events, and generally lack support from real underlying value. The outlet warned investors to stay alert to the risks tied to this type of asset. This move was reported as a rapid market reaction tied to a public social media change by a high-profile industry figure.
According to GMGN market data, the market cap of BRIAN, a meme coin on Base, dropped more than 80% in a short period after Coinbase Chief Executive Officer Brian Armstrong changed his profile picture on X again. The token was last quoted at a market cap of $1.2 million.
Odaily said meme coins can post sharp price swings, are often driven by market sentiment and trending events, and lack support from real underlying value. The outlet warned investors to pay attention to the risks.
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