Robinhood's Meme token, MEME, has seen its market capitalization fall below $50 million, dropping over 56% in six hours.

According to GMGN data, Robinhood's Meme token, MEME, has seen its market capitalization decline after reaching a peak of $151 million. It has now fallen below $50 million, currently trading at $49.66 million, a 56.31% drop in the last 6 hours. Robinhood previously announced that its on-chain stock token DEX trading volume surpassed $3 billion in 63 days, specifically mentioning coverage of over 190 companies including AMC. However, this sparked discontent from AMC CEO Adam Aron, who engaged in a public spat with Robinhood CEO Vlad Tenev, even threatening to have his securities legal counsel investigate the possibility of legal action. Odaily reminds users that Meme token prices are highly volatile, and investors should exercise caution.