Meme token Niulai, which was listed on Binance Alpha a day earlier, rebounded again in early trading on Aug. 19 after a brief pullback following the initial bullish catalyst. Market data from GMGN showed the token briefly pushing past a $40 million market capitalization before easing to $38.03 million.
Public information cited by BlockBeats pointed to continued activity from users on the Fomo platform as a driver behind the rebound. Among the most watched wallets was DeGods founder Frank, who kept adding to his position and now holds more than $500,000 worth of Niulai. Frank also told the community that the "Niulai" movie would soon be shown in the United States, though the report clarified that the event was actually a watch party launched by Polymarket.
The report also said Qwerty, the top profit-making address for Niulai, reduced part of its holdings yesterday afternoon and has not made any further buys or sells since then.
Meme token Niulai was listed on Binance Alpha a day earlier and staged another rebound in early trading on Aug. 19, according to BlockBeats. GMGN market data showed the token briefly rising above a $40 million market capitalization before slipping back to $38.03 million after an earlier post-catalyst pullback.
Fomo platform wallets draw attention
Public information cited in the report suggested that users on the Fomo platform may still be driving the move. DeGods founder Frank has continued adding to his position and now holds more than $500,000 worth of Niulai. He also told the community that the "Niulai" movie would soon be shown in the United States, although the report said the event was in fact a watch party initiated by Polymarket.
Top profitable wallet pauses after trimming
The report added that Qwerty, the top profit-making address for Niulai, cut part of its position yesterday afternoon and has not made any further reductions or additions since then.
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