Meme Coin ASTEROID Jumps 700% on SpaceX Mascot Buzz; Whale Sits on Nearly $100K Paper Loss

ChainThink, citing on-chain analyst Aunt Ai (@ai_9684xtpa), said address 0xb0158c68 spent about $707,000 over the past 10 hours to purchase 1.85 billion ASTEROID at an average price of $0.0003822, and is now carrying an unrealized loss of nearly $100,000. The wallet has made just four meme-token trades so far, all unprofitable. Its biggest hit was a $1.64 million loss on CULT, and ASTEROID has since become its largest position. GMGN market data showed that news spread this morning that Musk agreed to make "Asteroid" the mascot of SpaceX. The Ethereum-based meme coin ASTEROID, launched in September 2024, briefly saw its market capitalization break above $160 million, touched an intraday peak of $194 million, then pulled back to around $137 million. ASTEROID is up roughly 700% over the past 24 hours, with 24-hour trading volume at about $125 million. Meme coins are known for extreme volatility, with prices largely driven by sentiment and hype rather than fundamentals or real-world utility. Investors are advised to weigh the risks carefully.