Data: Chinese Meme Coin "Laozi" drops over 40% in 4 hours, market value falls to 6.11 million USD

According to GMGN market data, the Chinese meme coin "Laozi" has dropped over 40% in the past 4 hours, with a market cap falling to $6.11 million, after previously surpassing $10 million.

This Chinese meme concept coin originates from a tweet by Binance CEO He Yi. Meme coins experience significant trading volatility, largely relying on market sentiment and hype around concepts, and have no actual value or use cases. Investors should be aware of the risks.