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STONKS Meme Coin Surges 205% in 24 Hours, Market Cap Tops $70M

AInvestSaturday, Feb 1, 2025 9:35 am ET
1min read

The market capitalization of STONKS, a Solana-based meme coin, briefly surpassed $70 million before retreating to $58.6 million, according to GMGNmarket data. The coin experienced a 205% increase in price over a 24-hour period, with a trading volume of $107 million during the same time frame.

This recent surge in STONKS' market cap follows a previous incident on January 23rd, when a Nasdaq-affiliated account was compromised and used to promote the STONKS token. As a result, the coin's market cap temporarily reached $20 million before plummeting over 99% after the hack was confirmed.

Meme coins, such as STONKS, often lack practical use cases and are known for their significant price volatility. Investors should approach these assets with caution, as they can be highly speculative and risky.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.