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Snowball Meme Coin Hits All-Time High Market Cap of Over $11 Million Today, Now Slightly Pulling Back to $8.1 Million

2 hours ago

On December 23rd, per GMGN monitoring (link: https://t.me/gmgnaibot?start=i_m4TE56o8), Solana-based meme coin Snowball hit a daily high market cap of over $11 million today. It has since slightly retraced to $8.1 million, with a current price of roughly $0.008. This meme coin is the first on Solana to automatically allocate 100% of Pump.fun platform creator fees to its own liquidity. Launched just four days ago, discussions around it on X are continuing to heat up. Some optimists argue its mechanism creates sustainable genuine buying pressure, driving a "snowball" growth pattern — and it ties into the Christmas theme. Skeptics, however, note it’s still in a FOMO-fueled market, with potential risks of developer wallet sell-offs. The token’s core identity is a meme coin; its innovative mechanism is only an added value. BlockBeats reminds users that meme coin trading is highly volatile, heavily reliant on market sentiment and hype, and lacks real-world value or use cases. Investors should be mindful of the risks.
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