BlockBeats News, May 8th, according to GMGN monitoring, on-chain Meme coin HANTA on Solana launched yesterday and saw another strong surge at 6:00 this morning. The market cap skyrocketed over 450% within 1 hour to over $18 million, then experienced a sharp decline, currently trading at around $9 million, nearly halving from the peak. The 24-hour price change still maintains about 650%, while on-chain trading volume during the same period has exceeded $40 million.

It is reported that this Meme narrative stems from a recent outbreak of a new virus named HANTA on a cruise ship overseas. Due to the high fatality rate of the virus, related panic sentiment continues to brew on social media.

BlockBeats Note: Meme coins are highly volatile, mostly driven by market sentiment and conceptual speculation, without actual value or use case. Investors should be cautious of the risks.