Robinhood Meme Coin MEME Drops Over 70% in 6 Hours to $36.71M

The rapid 70% drawdown in MEME's market cap underscores the extreme volatility inherent in celebrity-adjacent or exchange-branded meme tokens, where sentiment can reverse as quickly as it builds. The context of Robinhood's tokenized stock announcement and the public spat with AMC's CEO suggests the token's initial spike may have been tied to narrative momentum around the DEX launch, which has now faded. This event highlights how corporate crypto experiments can create outsized retail risk, and the open question is whether Robinhood will address the fallout or distance itself from the token. For market watchers, the key is whether such volatility deters other platforms from similar promotional token launches.