Joyoung reiterated no association with Hachimi despite social media speculation, as its shares jumped and the meme coin saw sharp swings.
Joyoung confirmed it has no products related to Hachimi, countering rumors fueled by social media about a 'Hachimi Nanbei Green Bean' drink. Despite the clarification, Joyoung's shares climbed 10.05% to a ¥8.439 billion market cap. Meanwhile, the Chinese Hachimi meme coin surged over 70% within 24 hours before settling to a 40% gain.