Mihao's market cap briefly broke through $20 million, with a 24-hour increase of 2921%

Odaily Planet Daily News: According to GMGN data, the market capitalization of the Solana ecosystem's meme coin mihao (ni hao cat) briefly surpassed $20 million, peaking at around $20.98 million, and is now trading at approximately $18.81 million, with a 24-hour increase of 2,921%. Previously, well-known trader Ansem posted a positive outlook on mihao, noting its avatar community attributes conducive to social dissemination and inclusion of Chinese elements, which could attract both Eastern and Western whales to participate in buying. Additionally, the project's developers have locked 5% of the token supply for one year. Ansem stated that ANSEM will be his creator token for this cycle, while mihao is his 'pure meme' holding, adding that the on-chain market has already bottomed out. Odaily reminds readers that meme coins are highly volatile, and investors should be aware of market risks.