The market capitalization of the Meme coin snowball today broke through 11 million USD, now slightly retreated to 8.1 million USD.

On December 23, according to GMGN monitoring, the Meme coin snowball on the Solana blockchain has today surpassed a market capitalization high of 11 million USD, currently slightly retreating to 8.1 million USD, with a current price of approximately 0.008 USD. It is reported that this Meme coin is the first on the Solana blockchain to automatically allocate 100% of the creator fees from the Pump.fun platform for its own market-making. Since the token was launched four days ago, discussions on platform X have continued to heat up. Some optimists believe its mechanism creates sustainable real buying pressure, forming a “snowball” rise, and aligns with the Christmas theme; while some bearish groups believe that this is still a FOMO market, and there are potential selling risks in the Dev wallet. The primary attribute of this token is that it is a Meme coin, and its innovative mechanism is merely an added value. BlockBeats reminds users that trading in Meme coins is highly volatile, largely dependent on market sentiment and concept speculation, and has no actual value or use case, so investors should be cautious of risks.