Robinhood co-founder Vlad Tenev followed the official account of MEME, a meme coin paired with AMC Entertainment stock (ticker: AMC) via the Robinhood platform, early on September 7. This action triggered a rapid surge: according to GMGN data, MEME's market capitalization nearly doubled within a short period, peaking at $174 million before retreating to $83.58 million, representing a 24-hour gain of over 100%. The token's market cap was approximately $41.79 million a day earlier, implying a doubling. The move came a day after multiple FOMO platform KOLs, including Bonk Guy, had been heavily accumulating MEME tokens. MEME utilizes tokenized AMC shares as its base pool and provides liquidity through the MEME/AMC trading pair on Robinhood. The coin had already surpassed the $100 million market cap threshold on Friday, setting the stage for increased attention. The involvement of a high-profile figure combined with prior KOL accumulation highlights the speculative interest in this meme asset, though specific accumulation amounts remain undisclosed.
Early on September 7, Robinhood co-founder Vlad Tenev started following the official account of MEME, a meme coin paired with AMC Entertainment stock (ticker: AMC) on the Robinhood platform. And the market reacted fast. GMGN data shows MEME’s market capitalization almost doubled in a short span, hitting a high of $174 million before sliding back to $83.58 million. Over the past 24 hours, the token posted gains of more than 100%.
The attention didn’t come out of nowhere. On the previous day, several FOMO platform KOLs — Bonk Guy among them — had piled into MEME, a sign that interest was already building.
MEME uses tokenized AMC shares as its base pair, with liquidity supplied through the MEME/AMC trading pair on Robinhood’s stock trading interface. Before the co-founder’s follow, the token had already moved past the $100 million market cap threshold on Friday.
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