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FollowingA video from Seattle made it hot searches on social media and cryptocurrency markets in just a few hours. A raccoon named Jimothy inspired anonymous developers to launch a memin called Jimothy on the Solana network. The market response far exceeded expectations, with the token rising 186% in 24 hours, and its market value exceeded approximately US$11 million. In the past 24 hours, its transaction volume has exceeded $36 million. In the market value ranking, Jimothy ranks 1117th.
How did Jimothy become an online phenomenon overnight?
It all started in Seattle's Ballard area. Local resident Kiana Hall encountered a strange-looking raccoon near the Goodwill store and took a video and uploaded it to social media. The video quickly became popular, and thousands of netizens named the raccoon "Jimothy", creating a new Internet celebrity on the Internet.
Dr. Marcie Logsdon, associate professor at the Washington State University School of Veterinary Medicine, said the animal most likely suffered from a "short spine syndrome." This rare congenital condition causes abnormally short spinal column development and limits its ability to move. However, Logsdon still described the fact that Jimothy was able to survive as "surprising and inspiring".
Starting with Pump.fun, growing on social media
With the explosion of Jimothy, anonymous developers released JIMOTHY tokens through Pump.fun. The token quickly made it onto the platform's popular page, attracting more attention from Solana investors. Tweets from Pump.fun's official X account further boosted the popularity, and trading volume quickly climbed.
This craze is not limited to the cryptocurrency community. The Reddit community named after Jimothy has been established, and raccoon themed surrounding products have also begun to be sold. Some tattoo studios have even launched discounts on Jimothy themed designs.
The timing is also quite clever. JiMOTHY comes online just as Pump.fun trading volume is recovering. The proportion of investors achieving profits on the platform has continued to rise over the past four months. At the same time, trading activity on Solana's network is also increasing, but SOL prices have failed to rise simultaneously.
Experts: Viral fever cannot last long
The price of JiMOTHY soared to US$0.0217 in a short period of time, an increase of more than 50 times compared with the initial price. The current circulation supply is about 1 billion pieces.
However, not everyone is so optimistic. Experts point out that Jimothy's rise is highly dependent on continued attention from social media. Once hotspots shift, such memes tend to quickly retract gains. Moreover, such precedents are not uncommon. This year's World Cup-themed memecoin craze around Errin Harland quickly cooled down after the initial excitement; similar tokens, which arose from the Pentagon UFO documents, also depreciated sharply within a few weeks.
It's too early to tell whether Jimothy will make the same mistake. The only thing for sure is that a hit on social media will be enough to spawn a new memein worth millions of dollars in the Solana ecosystem. Jimothy is the latest example.
