Robinhood Chain ecosystem token FAMI has fallen below a market capitalization of about $25 million and is now valued at $22.5 million after earlier rising more than 750%. According to Odaily, market attention may be tied to trader Rune’s recently disclosed plan to tokenize low-cap Nasdaq-listed stocks and launch a meme coin, but there is no confirmation that FAMI is directly connected to the plan.
Rune said he spent about $1.8 million to acquire a 37.4% stake in a Nasdaq-listed company and plans to tokenize the related equity on Robinhood Chain while also introducing a meme coin paired with the tokenized stock. Odaily said the narrative has not been officially confirmed and warned that meme coin prices are highly volatile.