$MEME Token Skyrockets on AMC-Robinhood Feud, Then Plummets
A public feud between AMC Entertainment's Adam Aron and Robinhood's Vlad Tenev sparked a surge in the $MEME token, which briefly reached a market cap of over $100 million on September 3-4, 2026. The token's price skyrocketed from a low seven-figure valuation to nearly $151 million within hours, before plummeting to around $45 million by September 5.
The feud began when Aron objected to Robinhood's tokenization of AMC stock, calling it a 'synthetic market' set up offshore. Tenev responded with a simple 'What's the concern?' which sparked a meme that traders turned into a trading pair on Uniswap v4.
A large portion of the $MEME volume was attributed to Frank, an X user who bought 11 million tokens for $1,491 and reportedly made around $1.2 million in profit within hours. However, some critics pointed out that early fills in the trade were clustered, raising suspicions of insider trading.
The $MEME token's launch liquidity is paired against Robinhood's AMC stock token, and its holders do not own actual AMC shares or have any claim on the company's cash flows. The market cap of the token has since dropped, but its price volatility remains a topic of interest in the crypto community.