BlockBeats shared the market data in a flash update on Aug. 30. According to GMGN, TENDIES, a meme token on Robinhood Chain, saw its market cap exceed $27 million. At that point, its 24-hour gain stood at 41.2%, a recent high for the token. It has since pulled back to around $22 million, with 24-hour trading volume of $2.8 million. The token's name comes from an internet meme widely used by U.S. retail investors and Reddit communities. 'Tendies' refers to chicken tenders or chicken nuggets and is slang for the feeling of an ordinary retail trader making money and going home to celebrate with chicken. It carries a sense of grassroots victory. In its note, BlockBeats said meme coin trading is extremely volatile and often depends on market sentiment and concept hype. TENDIES has no real value or use case, the outlet added, and investors should pay attention to risk.
On Aug. 30, BlockBeats posted a market update saying TENDIES, a meme token on Robinhood Chain, had lifted its market cap past $27 million. At the time, the token was up 41.2% over 24 hours, and that jump set a fresh recent high. Since then, TENDIES has pulled back. Its market cap now sits near $22 million. And its 24-hour trading volume stands at $2.8 million, based on GMGN data.
Where the name comes from
TENDIES comes from an internet meme popular with U.S. retail investors and Reddit circles. “Tendies” means chicken tenders or chicken nuggets. In online slang, the term paints a picture of a regular retail trader making money, then heading home to celebrate with chicken. Simple stuff. The phrase has a grassroots, everyday-investor win vibe.
Meme coin risk warning
BlockBeats said meme coin trading is extremely volatile and is often pushed by market sentiment and concept hype. The token has no real value or use case. So investors should keep their eyes on the risks.
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