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BAGS Ecosystem Meme Coin NPM Plunges 80%: From $8.9 million to $800,000 rollercoaster
【Blockchain Rhythm】The Meme token NPM of the BAGS ecosystem has recently experienced a "roller coaster" market. In just 5 hours since its launch, this token's market cap plummeted from a peak of $8.9 million to a low of $800,000, with an hourly decline of over 80%, and a trading volume reaching $13.2 million during this period.
Regarding the background of this token, NPM pays tribute to the world's largest package manager NPM—taking its founder Isaac Z. Schlueter as inspiration. Schlueter is known in the developer community by the nickname "V God," indicating that this token was thoughtfully designed.
However, this fluctuation also serves as a reminder to many investors of a reality: most Meme coins fundamentally lack practical application scenarios and are mainly driven by community enthusiasm and narrative to influence prices. Once the hype subsides or large holders exit, price volatility can become extremely intense. For investors with limited risk tolerance, such assets indeed require extra caution.