Trader 0xSun said the JINQIAN/FAMI market structure does not follow the usual on-chain tokenized-stock short-squeeze model. In that model, Robinhood or another compliant issuer creates a tokenized stock (a blockchain token tracking a real share), a meme coin is paired with it, and buying pressure can prompt market makers to purchase and tokenize the underlying shares to restore the price peg. For JINQIAN/FAMI, 0xSun said an unidentified project team issued FAMI on-chain while retaining minting authority, leaving the project’s compliance status unclear and the liquidity pool potentially unlocked. With FAMI’s company market capitalization very low, retail enthusiasm first drove purchases of JINQIAN and lifted FAMI as the pool’s underlying asset; some traders then bought FAMI shares directly, pushing the stock price higher. 0xSun likened the setup to Bald, an early Base meme coin that also lacked locked liquidity, surged before its liquidity was withdrawn, and offered no certain trading logic. He said investors must judge whether further upside without malicious action is more probable than a collapse caused by malicious behavior, emphasizing that excess returns do not come with absolute certainty and that such projects combine very low certainty for most people with potentially multi-fold gains.