Meme coin fone surges nearly 40% in 24 hours, market cap hits $8.5 million

According to GMGN data, the Solana-based meme coin fone saw its market cap briefly exceed $8.5 million, currently trading at approximately $8.2 million with a 24-hour gain of 38.4%. The project centers on the 'an ape on a phone' narrative, highlighting the trend of mobile-first, social-driven meme coin trading. The community compares this to the 'a dog with a hat' narrative of the previous cycle. Investors are advised to exercise caution due to high volatility and the lack of fundamental support for community-driven tokens.