According to ChainCatcher, GMGN data shows that the BAGS ecosystem's Meme token NPM experienced a sharp drop in a short period of time, with its market value falling from a high of $8.9 million to $800,000, a drop of more than 80% in one hour. The trading volume in the first 5 hours after listing was $13.2 million.
It is understood that the NPM token narrative pays homage to Isaac Z. Schlueter, the founder of NPM, the world's largest package manager, who is hailed as the "V God" of the programmer world. ChainCatcher reminds users that Meme coins often lack practical use cases, their prices fluctuate greatly, and investment should be approached with caution.
