Solana meme coin TOAD, a speculative token driven by online communities, surged after launching at 22:00 last night, first reaching a $20 million market capitalization and later briefly topping $24.5 million before easing to about $22.16 million, according to GMGN data. Earlier turnover exceeded $52.1 million. The rally followed sustained social media promotion and small follow-on purchases by 6th Man Ventures founder Mike Dudas after he received gifted TOAD tokens from the community. Dudas said he would not sell those tokens and would instead use them to help spread the narrative, following Ansem's approach. BlockBeats and Odaily both warned that meme-coin trading is highly volatile, with liquidity and position risks and the potential for rapid pullbacks after sharp gains.