Automated Market Maker Meme Coin Snowball Continues to Surge, With Over 500% Growth in the Last 24 Hours

BlockBeats News, December 22, according to GMGN monitoring, Solana-based Meme coin Snowball continues to surge, with a 24-hour gain of over 500%, reaching a peak market cap of $8 million and currently around $7.6 million, with a current price of $0.0076.

It is reported that this Meme coin is the first on Solana to automatically use 100% of Pump.fun platform creator fees for its own liquidity. The token has been online for three days, and discussions on related platforms have been heating up.

Some enthusiasts believe that its mechanism creates sustainable real buying pressure, leading to a "snowball" growth pattern that aligns with the Christmas theme. However, some skeptics believe that the Dev wallet still poses a potential risk of selling accumulated tokens for liquidity, and the current surge is considered a short-term, high-risk FOMO market.

BlockBeats reminds users that Meme coin trading is highly volatile, relies heavily on market sentiment and speculative hype, has no real value or use case, and investors should be aware of the risks involved.