Memecoin MOMO Surges 160x Amid TikTok Ban Discussions
As the US Supreme Court considers a bill that could force TikTok's owner ByteDance to sell the app, a new memecoin called MOMO has gained traction. Key points include:
- The potential TikTok ban raises national security concerns.
- Users have migrated to the Chinese app RedNote, adopting the “momo” username.
- MOMO memecoin launched in October and has surged 160x in three days.
- Its market cap is under $5 million with less than $40 million in trading volume.
- MOMO has returned around half of the gains compared to AI16Z, which increased 295x since its launch.
RedNote shows limited crypto content except for major coins, indicating a growing interest in onchain projects among its users.
