Solana ecosystem Memecoin fone's market cap briefly surpassed $30 million, surging over 58x intraday

According to Odaily, data from GMGN shows that the Solana ecosystem memecoin fone's market cap briefly surpassed $30 million and is now reported at approximately $23.56 million, with an intraday increase of over 58 times.

In terms of narrative, fone revolves around the concept of "apeonfone," summarizing the trend of memecoin trading becoming increasingly mobile and social as "an ape on a phone." The project community compares this to the previous cycle's dogwifhat narrative of "a dog with a hat," emphasizing a trading approach where users browse social media on their phones, receive calls to action, and directly buy memecoins.

Odaily reminds that memecoin prices are highly volatile, and tokens driven by such community narratives lack stable fundamental support. Please be aware of trading risks.