Gate News: On March 6, the Solana ecosystem meme coin “My Sword and Shield” increased in market cap from $1.8 million, reaching a peak of $6.6 million, and is currently at $5.6 million, with a 24-hour increase of 240%. The trading volume over the same period is approximately $4.9 million. The token has been live for 6 days and is the first Chinese narrative meme coin on Solana to reach a million-dollar market cap recently. On-chain trader Cowboy bought in when the market cap was about $290,000 at $740, and the current floating return rate has reached 1900%. After some partial sales, the total profit is approximately $7,930. Additionally, the same-named meme coin “My Sword and Shield” on the BSC chain also gained about 57% in 24 hours, with a market cap of $500,000 and a trading volume of around $360,000. The token has been live for about 28 days. It should be noted that meme coin trading is highly volatile, often driven by market sentiment and hype, and lacks real value or utility. Investors should be cautious of the risks.
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