Hakimi Meme Coin’s Dramatic 40% Surge on BSC

The BSC meme coin Hakimi surged nearly 40% on November 20, reaching a market cap of $27.51 million, reports GMGN Market Data.

This event highlights the volatility of meme coins like Hakimi, driven by community speculation, with rapid gains and losses reflecting similar past market trends.

Meme Coin Hakimi Climbs 40% on BSC Spike

Hakimi, a meme coin on Binance Smart Chain, experienced a sudden surge, increasing nearly 40% to a brief peak of $27.51 million market cap. This growth reflects fleeting interest driven by speculation and community engagement within the cryptocurrency market.

Market volatility returned as the coin’s value quickly retracted. Rapid inflows and outflows were observed, showcasing the unstable price dynamics typical of meme coins. This coincides with historical behaviors seen in previous meme-based cryptocurrencies.

Despite the excitement, industry leaders and key opinion leaders were notably silent, highlighting a cautionary sentiment about meme coin investment risks. “As rumors spread, Binance Co-founder He Yi publicly dismissed misinformation around ‘account hacks’ and ‘meme speculation,’ warning KOLs against sowing division…” —He Yi, Co-founder, Binance.

Historical Patterns Echoed in Hakimi’s Crypto Surge

Did you know? Hakimi’s brief surge parallels historical trends seen in assets like Dogecoin, which exhibited dramatic spikes, followed by significant retracements in early trading periods.

Dogecoin, prominently known in the meme coin sector, was priced at $0.16. With a market cap of $24.04 billion, it experienced a 24-hour trading volume of $2.29 billion, reflecting a 15.35% change. The coin saw price declines over 90 days, including a 27.30% drop, according to data by CoinMarketCap.

Analysts from Coincu suggest that meme coin history often echoes similar patterns of fervent interest followed by retracement. This points to ongoing risks for investors and potential regulatory scrutiny over market behaviors in speculative assets like meme cryptocurrencies.