BlockBeats News, September 4th, according to GMGN market data, despite Robinhood's co-founder's public support for stock tokens, MEME token's price experienced a sharp pullback after reaching a high, once again dropping below $70 million to currently trade at $67.41 million, marking the lowest market cap since its peak of $150 million.

Meanwhile, the FOMO community, known for its long-term HODLing strategy, also joined the selling pressure, with several top KOLs offloading tens of thousands of dollars in large orders, indicating that the MEME narrative may be coming to a temporary conclusion.