JINQIAN, a meme coin on the Robinhood chain, briefly fell to a valuation of $20.5 million on Sept. 2, according to GMGN market data. That marked a drop of more than 70% from its peak. The token later rebounded to $42 million. BlockBeats, which cited the data, also warned that price swings in related tokens remain large and said users should stay cautious when investing. The move highlights the sharp intraday volatility that can hit meme coins, especially in thin and fast-moving markets. No additional details on the trigger for the decline were provided in the source update.
JINQIAN, a meme coin on the Robinhood chain, briefly fell to a valuation of $20.5 million on Sept. 2, according to GMGN market data cited by BlockBeats.
The token was down more than 70% from its peak before rebounding to $42 million.
BlockBeats said related tokens have seen large price swings and warned users to be cautious with their investments.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
