BlockBeats News, July 18, according to GMGN market data, the Base Chain Meme token Brain (Coinbase Man) saw its market cap briefly soar past $35 million yesterday, but has now plummeted to $1.4 million, marking a more than 93% drop in 24 hours, with a 24-hour trading volume of $21 million.

Brain adopts the native B20 token standard introduced by the Base Chain's Beryl upgrade, with the token named after Coinbase CEO Brian Armstrong. Brian Armstrong recently changed his profile picture to an X that closely resembles the Brain token's icon, sparking community speculation and driving rapid trading activity. As Brian Armstrong changed his profile picture again, this meme coin faced intense selling pressure and gradually trended towards "zero."

BlockBeats reminds users that meme coin prices are highly volatile, relying mainly on market sentiment, community hype, and narrative-driven moves, lacking solid fundamental support. Investors should be aware of the risks.