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SCAM on Solana Jumps to $10.14 Million Market Cap After 290x Daily Surge

SCAM briefly exceeded a $15 million market cap on Solana as early wallets booked large realized and unrealized gains, underscoring the speed, volatility, and speculation surrounding the token’s rapid rise.

SOL

Fact Check
The core numeric claim that SCAM on Solana jumped to about $10.14 million market cap after a 290x daily surge is directly supported by Odaily's "SCAM 市值突破 1000 万美元，日内涨超 290 倍." The added statement that SCAM briefly exceeded $15 million market cap is supported by the second Odaily item, "交易员 CryptoD 早期买入 SCAM，盈利超 80 倍," which says GMGN monitoring showed it once broke $15 million. PANews' article and PANews' X post corroborate the broader picture of rapid appreciation and large gains for early wallets. Confidence is medium rather than high because the evidence comes from crypto newsflash/monitoring outlets rather than an official market-data archive or issuer source, but the supplied sources are mutually consistent.
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Summary

SCAM, a Solana-based meme coin tied to the Elon Musk 'Scam Altman' narrative, was first reported at a $10.14 million market capitalization after rising more than 290x in one day and later briefly exceeded $15 million. On-chain trading data highlighted outsized gains by early buyers: trader CryptoD bought 13.1 million SCAM with about 20 SOL within two minutes of listing and at one point posted an 8,220% return, with remaining holdings showing about $67,000 in unrealized profit. Separately, another wallet bought 10.46 million SCAM for 1.7 SOL, or $141.5, within 90 seconds of deployment, then sold 55.5% of its holdings over the next 10 hours at an average price of $0.00453 to realize $26,000 in profit while still holding unrealized gains of about $51,400. The episode illustrates how social-media-driven meme coin narratives can rapidly influence prices and create extreme volatility and risk.

Terms & Concepts
  • Solana: A blockchain network designed for high-speed transactions and low fees, commonly used for token issuance and decentralized applications.
  • Meme coin: A cryptocurrency token largely driven by internet culture, community attention, and speculation rather than established underlying utility.
  • Unrealized gains: Paper profits on assets still being held, calculated from current market value rather than completed sales.