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The recent launch of Yua Mikami’s meme coin, MIKAMI, has highlighted the volatile nature of cryptocurrency markets as its value plummeted over 80% within hours.
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This dramatic decline left pre-sale investors facing losses of up to 60%, drawing attention to the risks associated with celebrity-backed tokens.
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“Meme coins often thrive on hype and speculation,” noted a market analyst, emphasizing the lack of fundamentals in such investments.
MIKAMI, Yua Mikami’s new meme coin, lost over 80% in value shortly after launch, raising concerns about the volatility of celebrity-backed cryptocurrencies.
Fans Burned as Yua Mikami’s Meme Coin Collapses
Yua Mikami, a well-known Japanese entertainment star, ventured into the cryptocurrency space with her meme coin, MIKAMI, on the Solana blockchain. Initially, the coin attracted significant interest from investors eager to capitalize on the star’s popularity.
As per an announcement from the Mikami Coin account on X, the pre-sale completed on May 3, 2025, successfully raising more than 23,000 SOL, approximately $3.4 million at the time of launch.
This pre-sale saw participation from 17,560 valid addresses, which collectively contributed 23,320.74 SOL. The team effectively filtered out over 21,000 transactions deemed spam, ensuring quality participation. Subsequently, pre-sale investors received tokens at an average cost of $0.245 each.
However, shortly after MIKAMI’s official launch and airdrop in the early hours of May 8, the token’s price experienced a drastic drop. Within five hours, MIKAMI lost 60% of its value, crashing to $0.1.
As of now, the downward trend continues, with MIKAMI losing over 80% from its peak price, currently valued at $7 million in market capitalization. Data from Dexscreener illustrate this significant price decline, showing MIKAMI falling from a high of $0.828 to $0.1 within a matter of hours.
What Caused the Sharp Decline?
The sharp decline of MIKAMI is emblematic of the meme coin market’s notorious volatility and its foundational reliance on investor psychology.
One user on X encapsulated this by saying, “Meme coin psychology: It’s not FOMO — it’s ‘maybe this one will fix everything.’” This sentiment captures the impulse behind these speculative investments.
Nonetheless, meme coins typically lack intrinsic value, making them vulnerable to market manipulation. The immediate 80% price drop of MIKAMI suggests that large investors, or “whales,” who purchased tokens during the pre-sale may have executed timely sell-offs immediately following the listing.
Analyzing MIKAMI’s tokenomics reveals additional risks: 50% of the total supply is locked for Yua Mikami until 2069, while 20% was allotted to the pre-sale, 15% to liquidity, 10% to the community, and 5% for marketing initiatives. The liquidity allocation of 15% is notably lower than the typical range of 20-25% for meme coins, intensifying the token’s sensitivity to significant price shifts amid selling pressure.
Furthermore, MIKAMI’s decline was exacerbated by broader market conditions, where the meme coin sector has seen a 56.8% drop in capitalization since December 2024. This context amplifies the risks associated with low liquidity and weak community backing, prompting investors to consider panic selling as prices deteriorate.
In summary, Yua Mikami’s meme coin collapse serves as a vital lesson in the speculative nature of the meme coin market, where celebrity affiliation does not guarantee sustained token performance.
Conclusion
The MIKAMI situation not only highlights the risks involved with investing in meme coins but also illustrates the broader implications of celebrity culture intersecting with cryptocurrency. While the hype surrounding such projects may drive initial interest, the lack of foundational strength often leads to severe market corrections. Investors should exercise caution, staying informed and critically assessing the underlying value of cryptocurrencies in the volatile landscape.
