JINQIAN, a token in the Robinhood Chain ecosystem, briefly reached a market capitalization of $36 million on Sept. 2 before easing to $35 million, according to GMGN data. The token was still up more than 890% on the day at the time of the update. Market attention appeared to focus on a newly disclosed plan from trader Rune involving "tokenized low-cap Nasdaq stocks plus meme coins." Rune said he had spent about $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company and planned to tokenize the related equity on Robinhood Chain while also launching a meme coin paired with the tokenized stock. Even so, there is no confirmation at this stage that JINQIAN is directly tied to the plan described by Rune. Odaily said the narrative has not received official confirmation and warned that meme coins can see sharp price swings, urging traders to be mindful of risk.
JINQIAN, a token in the Robinhood Chain ecosystem, briefly reached a $36 million market capitalization on Sept. 2 before slipping to $35 million, according to GMGN data. The token was still up more than 890% on the day.
Market attention appeared to center on trader Rune's latest disclosure of a "tokenized low-cap Nasdaq stocks + meme coin" plan. Rune said he had spent about $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company. He added that he planned to tokenize the related equity on Robinhood Chain and launch a meme coin paired with the tokenized stock.
At this stage, however, it remains unconfirmed whether JINQIAN has any direct connection to the plan described by Rune. Odaily said the narrative has not been officially confirmed and warned that meme coins are highly volatile, urging caution around trading risk.
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