MITCH, a Solana-based meme coin, surged to a $37.2 million market cap and $26 million trading volume within hours, though its creator pledged long-term holding and analysts highlight volatility risks.
MITCH, a meme token on the Solana blockchain, recorded a new all-time high market capitalization of $37.2 million with $26 million in trading volume within four hours, according to GMGN data on Sept. 3. The token’s creator, Mitch (idrawline), stated he purchased the entire supply during the pre-bonding phase on Pump.fun, contributed $20,000, and committed to holding all tokens indefinitely in his god.sol wallet without plans to sell, burn, or lock. He also indicated future plans for livestreaming, gaming, and giveaways. BlockBeats reiterated that meme tokens typically lack utility and carry high volatility risks.