Today marked a notable surge in the meme coin market. According to monitoring reports, 'An', the first Chinese meme coin deployed on the BSC chain with a USD1 stablecoin pool, saw a significant price increase. Its market cap briefly touched $41 million, currently sitting at $34.7 million, with the price at $0.034.
Interestingly, this rally occurred without any accompanying positive news or community-driven narratives. Although no risks have been flagged by monitoring platforms so far, many market analysts suspect institutional involvement as the likely catalyst.
Given the extreme volatility of meme coins, which derive their value largely from hype and speculation rather than real-world use cases, investors are urged to exercise caution and carefully evaluate the potential risks before participating.