Meme token NPM, part of the BAGS ecosystem, achieved a market cap of $6.9 million within just four hours of its launch, according to GMGN Data. The token's current market cap stands at $5.4 million, with a trading volume of $6.4 million. NPM is a tribute to Isaac Z. Schlueter, the founder of the world's largest package manager, NPM, and is likened to the "Vitalik Buterin" of the programming world. Despite the initial surge, BlockBeats cautions that meme coins often lack practical use cases and can experience significant price volatility, advising investors to proceed with caution.
Meme Coin NPM Hits $6.9M Market Cap Shortly After Launch
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