Data cited by BlockBeats on Aug. 24 showed that the meme coin 「Niulai」 was valued at $34.66 million at the time of publication, with a 24-hour decline of 30.6%. The token’s issuing address has so far launched 12 different tokens and generated total fee income of 236.94 BNB, worth about $165,000. BlockBeats also warned users that many meme coins do not have practical use cases and can see sharp price swings, urging caution for anyone considering an investment. The update was attributed to GMGN data.
BlockBeats reported on Aug. 24, citing GMGN data, that the meme coin 「Niulai」 had a market capitalization of $34.66 million and was down 30.6% over the past 24 hours.
The token’s issuing address has launched 12 tokens in total and has generated 236.94 BNB in fee income, equal to about $165,000.
BlockBeats said many meme coins lack practical use cases and can be highly volatile, and reminded users to be cautious when investing.
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