Data: Ethereum ecosystem meme coin PunkStrategy (PNKSTR) retraced after surging over 370% in a single day, with its current market capitalization reported at $22.8 million.

According to ChainCatcher, citing GMGN market data, the Ethereum ecosystem meme coin PunkStrategy (PNKSTR) surged over 370% in a single day before pulling back. Its current market capitalization is reported at $22.8 million, with a 24-hour trading volume exceeding $8.6 million.

Reportedly, this meme coin was created by TokenWorks and charges a 10% transaction fee on trades. The fees are used to purchase Cryptopunk NFTs, which are then listed for sale at 1.2 times the purchase price. The profits from these sales are used to buy back PNKSTR. ChainCatcher reminds users that meme coin prices are highly volatile and advises caution when investing.