The White House Officially Releases Raccoon Jimothy Tweet, Meme Coin Jimothy Market Cap Surpasses $40 million

BlockBeats News, July 24th, according to GMGN monitoring, the White House official account tweeted about the raccoon Jimothy. The Solana-based meme coin Jimothy saw another surge, with a market cap surpassing $40 million, a 60% increase in 24 hours, and a trading volume of $44 million.

Jimothy, a prototype of a raccoon in Seattle, USA, with a rare congenital condition causing some physical abnormalities, became popular after a local resident posted its video on July 14th. The video has garnered nearly 8 million views and has inspired community creations such as emojis, murals, and merchandise.

BlockBeats reminds users that meme coin prices are highly volatile, mainly driven by market sentiment, community hype, and narrative. They lack stable fundamental support, so investors should be cautious of the risks.