FAMI, a token on the Robinhood Chain ecosystem, has seen its market cap drop below $25 million, currently at $22.5 million, after a surge of over 750%. The decline is occurring amid market focus on a plan by trader Rune, who spent $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company and intends to tokenize the equity while launching a paired meme coin. However, the direct link between FAMI and Rune's plan remains unconfirmed. Odaily warns that the narrative is unofficial and meme coins are highly volatile.
GMGN data shows FAMI, a token in the Robinhood Chain ecosystem, has dropped under a $25 million market capitalization and now sits at about $22.5 million. Earlier, the token had surged more than 750%, pulling in heavy market attention. Now the pullback is happening while traders are watching a plan disclosed by Rune. He said he has spent about $1.8 million to buy a 37.4% stake in a Nasdaq-listed company. The idea: tokenize that equity on Robinhood Chain and, at the same time, launch a meme coin paired with the tokenized stock.
But whether FAMI is actually tied to Rune's plan is still unconfirmed. Odaily's reminder is blunt: this related narrative has not been officially confirmed, and meme coins can swing wildly in price. So investors should stay cautious.
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