According to GMGN market data, fone, a meme coin in the Solana ecosystem, briefly pushed its market capitalization above $8.5 million before easing to about $8.2 million. The token was up 38.4% over the past 24 hours at the time cited in the report.
The project’s narrative centers on the “apeonfone” concept, which it uses to describe how meme coin trading in the current cycle has become more mobile and more tied to social media activity. In its own framing, the idea is captured by the phrase “an ape on a phone.”
The community has compared that setup to dogwifhat’s earlier “a dog with a hat” narrative from the previous cycle. The comparison highlights a trading pattern in which users browse social platforms on their phones, receive trade calls, and buy meme coins directly from mobile devices. Odaily also warned that meme coins can see sharp price swings and that tokens driven mainly by community narratives lack stable fundamental support, leaving trading risk elevated.
According to GMGN market data, fone, a Solana ecosystem meme coin, briefly saw its market capitalization rise above $8.5 million. It was later quoted at about $8.2 million, with a 24-hour gain of 38.4%.
On the narrative side, fone is built around the “apeonfone” concept. The project uses that phrase — “an ape on a phone” — to describe a meme coin trading cycle that has become increasingly mobile and social.
The community has likened the setup to dogwifhat’s “a dog with a hat” narrative from the previous cycle. In that framing, users scroll social media on their phones, receive trading calls, and buy meme coins directly from mobile devices.
Odaily said meme coin prices are highly volatile and added that tokens driven by community narratives of this kind lack stable fundamental support, urging traders to pay attention to risk.
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