FISH coin on Solana skyrockets tenfold in a day? The risks behind the Meme coin frenzy you need to know

【Crypto Rhythm】Meme coin FISH on the Solana chain has recently gained popularity again. According to on-chain data, this coin rebounded by over 68% today, with a current market cap of $7.5 million and a 24-hour trading volume of $10.4 million.

Speaking of the origin of this coin, it’s quite interesting. FISH’s inspiration comes from the character in the international bestseller “The Rainbow Fish.” What truly made it go viral was a well-known parody account on X platform — Rainbow Fish. This account had been inactive for over four years, but suddenly became active again on the afternoon of January 1st, engaging in meme interactions. The account’s revival attracted a lot of attention, and soon a token named FISH appeared on Pump.fun platform, which ignited market enthusiasm. Since then, FISH and related Meme coins have been heavily speculated on in Solana, with market cap skyrocketing from an initial $70,000 to $700,000 in just one day, a tenfold increase. By the 8th, this coin even reached a historical high of $14 million.

However, it must be clarified that Meme coins are highly volatile, essentially a game of trend-following and emotion, with little practical use, relying purely on concepts and popularity. Friends playing with these coins should be very cautious of the risks, especially not to be fooled by the illusion of rapid gains.