"Haze's $370 Fairness Test Sparks SCI6900's Volatile 400% Surge"

The founder of GMGN, Haze, has entered the top two holders of the BNB Chain-based meme token SCI6900 after a $370 investment that triggered a 400% surge in the asset's market capitalization within hours. According to blockchain analytics, Haze's acquisition elevated the token's value from $6,000 to over $770,000, with the founder confirming a refusal to sell despite the token's volatile trajectory. SCI6900's circulating supply of 1 billion tokens is fully available for trading, with the asset listed on platforms like Phantom.

The rapid price increase was driven by Haze's public purchase and subsequent social media engagement, where he described the transaction as a "test" of GMGN's platform capabilities rather than a speculative bet. Haze emphasized his commitment to long-term holding, stating, "I don't care about millions-it's about fairness and community." The token's short-term performance highlights the influence of high-profile endorsements in meme coin markets, where retail sentiment and social proof often dictate liquidity and price action.

SCI6900's technical metrics reflect its speculative nature. With a total supply of 1 billion tokens and no inflationary mechanisms, the asset's value remains tied to on-chain activity and exchange listings. Phantom, a leading Solana-based platform, currently facilitates trading, though broader adoption on major exchanges could amplify its market exposure. The token's brief surge aligns with broader trends in the meme coin sector, where projects like SPX6900 and TOKEN6900 have similarly leveraged social media virality and developer tools to attract retail investors.

GMGN itself has emerged as a key player in the on-chain data and trading tools space, with Haze outlining the project's focus on smart money tracking and user-friendly interfaces. The platform's "Insider Wallet" feature, which identifies potentially manipulative addresses, has been credited with driving adoption amid the recent memecoin boom. However, the team acknowledges challenges in scaling infrastructure to meet surging demand, with servers experiencing outages during peak trading periods.

The SCI6900 incident underscores the dual-edged nature of meme coin dynamics. While Haze's involvement has injected credibility and liquidity, the token's extreme volatility-its market cap later retreated to $240,000-reflects the sector's inherent risk profile. Analysts caution that such assets remain highly dependent on speculative flows and influencer activity, with limited fundamental value underpinning their price movements.

Source: [6] GMGN Founder Haze Bought SCI6900 for $370 (https://www.blocktempo.com/gmgn-founder-haze-bought-sci6900-for-370/)