BlockBeats News, July 17th, the Basechain meme token Brain (Coinbase Man) briefly reached a market capitalization of $30 million, hitting a new all-time high. The current market cap has dropped to around $20.14 million, with a 24-hour price surge of over 3800% and a 24-hour trading volume of approximately $29.5 million.

Brain adopts the native B20 token standard introduced through the Basechain Beryl upgrade, with the token's name derived from Coinbase CEO Brian Armstrong. The key reason for the increased market attention is that Brian Armstrong recently changed his Twitter profile picture to one highly similar to the Brain token's icon, sparking community speculation and rapidly driving up trading activity.

Currently, Brain has around 8,850 hodler addresses, with the top 10 holders owning approximately 12.68% of the total supply. The liquidity is around $568,000.

BlockBeats reminds readers that meme coin prices are highly volatile, primarily driven by market sentiment, community hype, and narrative trends. These coins lack stable fundamental support, so investors should be cautious of the risks involved.