New GMGN data shows NPM plunging over 80% within an hour, marking another extreme swing in the highly volatile BAGS meme token market.
On January 20, GMGN data revealed that BAGS ecosystem token NPM collapsed over 80% in one hour, with its market cap tumbling from $8.9 million to $0.8 million. This occurred shortly after its launch, which saw $13.2 million in trading volume within five hours. The sharp drop adds to recent dramatic movements in the ecosystem, which include RALPH falling 54.66%, GAS declining 91.76%, and ELIZA TOWN surging 834%, underscoring the extreme volatility and speculative risks associated with these meme tokens.