Solana Meme Coin Fone Briefly Tops $38 Million Market Cap

Solana ecosystem Meme coin fone briefly pushed its market capitalization above $38 million and was trading at about $36.9 million, up 700% on the day. According to Odaily, the project is built around the "apeonfone" concept, described as "an ape on a phone," and its community compares the narrative with dogwifhat's "a dog with a hat" theme from the previous cycle. Odaily also said Meme coin prices are highly volatile and that community-driven tokens of this kind lack stable fundamental support.