Community-issued meme coin BORT experienced massive gains before retreating, with warnings highlighting its high volatility and lack of official backing.
On Feb. 4, GMGN data reported that BORT, a community-issued meme coin on BNB Chain, surged over 114 times in value within 24 hours to a $7.4 million market cap before dropping to $5.8 million. The 24-hour trading volume reached $13.3 million. BlockBeats cautioned that BORT carries high volatility risk and lacks any official backing, emphasizing its speculative nature.