PAID, a meme coin on Solana, briefly pushed its market capitalization above $20 million before retreating to $13.4 million, according to GMGN data. The token posted a gain of more than 990x over the past 24 hours at its peak, making it one of the sharper short-term moves tracked on the chain.
Information cited in the report says UsePaid is an automated fee-splitting tool designed for token creators. Project teams can route creator fees generated by meme coins into UsePaid, where 80% is converted into U.S. dollars and paid to designated X users through X Money. The remaining 20% is used to buy back and burn PAID.
ChainCatcher added a risk reminder, noting that meme coins can see large price swings and urging investors to participate with caution.
PAID, a meme coin on Solana, briefly saw its market capitalization rise above $20 million before falling back to $13.4 million, according to GMGN data. Its 24-hour gain at one point exceeded 990x.
The report said UsePaid is an automated fee-sharing tool for token creators. Project teams can direct creator fees generated by meme coins into UsePaid. Of that amount, 80% is converted into U.S. dollars and sent to designated X users through X Money, while the remaining 20% is used to buy back and burn PAID.
ChainCatcher warned that meme coin prices can be highly volatile and said investors should take part cautiously.
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