Cryptoslate reported, citing data from on-chain analyst Adam Tehc, that the trading volume of memecoins paired with stock tokens on Robinhood Chain reached $217 million on September 2 (local time), surpassing the stock tokens' own trading volume of $127 million. According to the media, there have also been cases where prices were significantly distorted as stock tokens were used in memecoin trading. Previously, approximately 53% of the circulating supply of HIMS stock tokens from the US telehealth company Hims & Hers entered a pool for BONER memecoin trading, significantly reducing the amount available for general trading. In this situation, with new HIMS token supply also restricted during weekends when the US stock market was closed, the price surged to $132.64, about 4.6 times the Friday closing price of $28.84. Afterwards, when the stock market reopened and additional HIMS tokens were issued, the price returned to the stock price level.
