BONER Market Capitalization Briefly Surpasses $70 Million

BONER, a stock meme token on Robinhood’s chain, gained 17.8% over 24 hours and briefly topped a $70 million market capitalization, approaching a historical high.

Its market capitalization stood at $66.4 million at publication on Oct. 5. The token was identified as a leading holding of crypto influencer eric.

Stock meme tokens combine meme coins with tokenized U.S. stocks. The format can pair tokens with representations of stocks such as NVDA, TSLA and AAPL, rather than with USDT or Ether (ETH).

Trading fees in the stock meme format often partly return to community treasuries, where they can be used to accumulate tokens representing the corresponding stocks.