Data: The market value of the meme coin Snowball has reached a high of 11 million USD today, and has now slightly dropped to 8.1 million USD

According to GMGN monitoring, the market cap of the Meme coin Snowball on the Solana chain has today peaked over $11 million, currently slightly retreating to $8.1 million, with a current price of about $0.008.

It is reported that this Meme coin is the first on the Solana chain to automatically allocate 100% of the creator fees from the Pump.fun platform for its own market making. The token has been online for four days now, and discussions related to it on the X platform continue to heat up. Some optimists believe that its mechanism creates sustainable real buying pressure, leading to "snowball" growth, and aligns with the Christmas theme; while some bearish groups argue that the current situation still belongs to FOMO trading, and there remains a potential selling risk from the Dev wallet. The primary attribute of this token is that it is a Meme coin, with the innovative mechanism being merely an added value.

ChainCatcher reminds users that trading in Meme coins is highly volatile, largely relying on market sentiment and speculative concepts, and lacks actual value or use cases. Investors should be aware of the risks.