Kabuto’s rapid rise in the Solana ecosystem saw a $13 million market cap before retreating, with warnings issued about extreme volatility and limited utility.
Kabuto, a meme token within the Solana blockchain ecosystem, saw its market cap briefly reach $13 million before falling to $11 million. On Dec. 2, daily trading volume hit $8.4 million, and the token’s price surged 327% in 24 hours. BlockBeats cautioned about Kabuto’s high volatility and lack of real-world use cases, highlighting the speculative nature of the rally.