The meme token HNUT on the Solana chain recently experienced extreme volatility, with its price plummeting by 99%, suspected to be a rugpull event. According to on-chain monitoring data from PeckShield, the token almost instantly dropped to zero, causing significant losses for investors.

This case once again warns us — the meme coin track indeed carries huge risks. Its high volatility, low liquidity, and susceptibility to manipulation make meme coins the most likely to trigger black swan events. FOMO emotions are especially easy to spiral out of control in these projects; once you miss out or are attracted to buy in, you often end up holding the bag.

For friends participating in the crypto market, the most important points are twofold: first, recognize the risk level clearly — meme coins are far from a stable choice; second, strictly manage risk exposure — don’t let a single investment threaten your entire funds. Protecting your wallet is more realistic than chasing high returns. The crypto market is never short of surprises, but what’s missing are rational participants.