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Malone Meme Token Surges 1,000% on Launch

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25 Sep, 2024

The Malone meme token has surged dramatically, debuting with a staggering increase of over 1,000% within 24 hours. Trading on the Raydium decentralized exchange, the Malone/Solana (SOL) pair reached a volume exceeding $4.4 million, with its market cap at approximately $751,000. Initially priced at $0.0006712, it peaked at $0.0017713.

This token is named after Malone Lam, a Singaporean teen arrested for his involvement in a $230 million Bitcoin scam. The meme's popularity stems from traders seeking quick profits while humorously aiming to match the stolen amount's market cap, reflecting its status as a cultural phenomenon rather than an endorsement of the crime.

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