The BAGS ecosystem's meme token, RALPH, has experienced a dramatic decline, dropping over 80% in just two hours. After peaking at a market cap of $59 million, RALPH's valuation has fallen to $9.9 million. The token's 24-hour trading volume stands at $20.75 million, highlighting significant trading activity. This sharp decline underscores the inherent volatility of meme coins, which are often driven by market sentiment and hype rather than intrinsic value or practical use cases. Investors are advised to exercise caution due to the high-risk nature of such assets.