The memecoin called ‘A Meme Coin’, launched on Robinhood Chain and loosely associated with AMC Entertainment, dropped more than 55% in a single day, erasing roughly 79% from its all-time high. The token’s market cap first surged from $3 million to nearly $150 million within hours, before retracing to around $40 million. The public feud between AMC CEO Adam Aron and Robinhood executives over AMC’s tokenized product fueled speculation around this launch. The token price fell from $0.13-$0.1585 to approximately $0.038 by September 5. Trading volume remained elevated, fluctuating between $70 million and $150 million, suggesting the market remains active despite the collapse.
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