The token surged to $915,000 in market value before collapsing 97% overnight, highlighting risks in speculative meme coin trading.
A wallet reportedly connected to alleged cryptocurrency theft in the United States launched a meme coin named $LICK on Pumpfun, a Solana-based token platform. The asset rapidly reached a market capitalization of $915,000 before plummeting by 97% within hours, underscoring the extreme volatility and risk often associated with speculative meme coins. Such projects can attract rapid speculative interest but remain highly susceptible to price manipulation and sudden losses.