ChainThink report: According to on-chain analyst Ai Yí (@ai_9684xtpa), address 0xb0158c68 has spent a cumulative $707,000 over the past 10 hours to FOMO into 185 million ASTEROID tokens, averaging $0.0003822 per token, now sitting on a floating loss of nearly $100,000.

This address has traded only four Meme tokens, all resulting in losses; notably, it previously incurred a $1.64 million loss on CULT, and ASTEROID is now its largest position by market cap.

Per GMGN price data, early this morning Elon Musk approved ASTEROID as SpaceX’s official mascot. This news sent shockwaves through the Ethereum-based Meme coin market, pushing ASTEROID’s (launched September 2024) market cap briefly above $160 million, peaking at $194 million intraday before retracting to $137 million. The token posted a 700% surge over 24 hours, with trading volume reaching $125 million in that period.

Meme coin trading exhibits extreme volatility, heavily reliant on speculative sentiment and narrative hype rather than intrinsic utility or fundamental value—investors should exercise caution and be aware of the associated risks.