BlockBeats News, May 13, according to GMGN Monitor data, the Solana-based space dog ASTEROID surged again this morning, with a peak market cap exceeding $18 million, currently around $15 million. Against the backdrop of a continuous price increase, the price of ASTEROID on the Ethereum chain has been declining during the same period, down 38% on a weekly basis, but the market cap remains high at $120 million.

Meanwhile, the controversy on social media has escalated, mainly focusing on: the Ethereum chain taking early small donations, cashing out after a recent sharp increase in token value, but failing to provide substantial help to the girl. Can this charitable narrative support a market value of over a billion dollars?

It is reported that during the initial token issuance in 2024, the Ethereum community received about 0.5% of the total supply (approximately 2.1 billion tokens). However, the token remained in a slump before the girl's death (January 26, 26), with a holding value equivalent to only about $100, and donations were minimal.

Recently, influenced by the Musk effect and the SpaceX mascot concept, ASTEROID saw a rapid increase in market value due to its "OG Elder" status. The aforementioned early tokens were then sold for $676,000, with the proceeds donated to St. Jude Children's Research Hospital. Some critics believe that while this action aligns with the girl's wishes, it did not provide substantial assistance during her lifetime.

Currently, the Solana community continues to donate directly to the girl's mother through transaction fees, with the total reaching $270,222 as of the time of writing. The Ethereum community has yet to follow up with new substantial charitable initiatives. The uniqueness of its charitable narrative is constantly being diluted by the ongoing actions of the Solana community. However, under the dual endorsement of Musk's personal influence and the SpaceX mascot, it remains the core anchor supporting the high market value of ASTEROID on the Ethereum chain.

BlockBeats reminds users that Meme coin trading is highly volatile, heavily reliant on market sentiment and concept hype, without actual value or use case. Investors should be aware of the risks.