Robinhood Chain ecosystem token FAMI market cap drops below $25 million

According to GMGN data, the market cap of FAMI, a token in the Robinhood Chain ecosystem, has fallen below the $25 million mark, currently reported at $22.5 million, after previously surging over 750%.

Market attention may be linked to trader Rune's recently disclosed plan to "tokenize low-market-cap Nasdaq stocks and launch Meme coins." Rune stated that he has spent approximately $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company, with plans to tokenize the related equity on Robinhood Chain and simultaneously launch a Meme coin paired with the tokenized stock. It is currently unconfirmed whether FAMI is directly related to the plan described by Rune.

Odaily reminds readers that the relevant narrative has not yet been officially confirmed, and Meme coin prices are highly volatile. Please be aware of trading risks.