Robinhood's Meme token, MEME, has seen its market capitalization fall below $60 million, dropping over 49% in six hours.

According to GMGN data, after reaching a market capitalization high of $151 million, Robinhood's Meme token, MEME, has seen its market capitalization continue to decline, now falling below $60 million, currently trading at $58.72 million, a 49.04% drop in 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 subsequently angered 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 participate with caution.