Punch, the Solana meme coin inspired by a monkey from the Ichikawa zoo in Japan, is making waves in the market. It has just surpassed $40 million in market capitalization, with a 28.7% move in the last 24 hours and a trading volume around $19.2 million. It’s getting pretty close to its all-time high of $44 million.

The thing with these meme coins is that they are quite volatile, you know? They depend heavily on market sentiment and what the community is talking about on social media. They don’t have a real use case or fundamentals backing them, so you need to be careful. Price movements can be wild at any moment. If you’re interested in trading this, make sure you understand the risks you’re taking.