The automatic market-making Meme coin Snowball continues to pump, with a 24-hour rise of over 500%.

On December 22, according to GMGN monitoring, the Solana on-chain Meme coin Snowball has been continuously pumping, with a 24-hour increase of over 500%, reaching a market capitalization peak of 8 million USD, currently about 7.6 million USD, with a quoted price of 0.0076 USD. It is reported that this Meme coin is the first on the Solana chain to automatically allocate 100% of the creator fees from the Pump.fun platform to its own market making. This token has been online for three days now, and discussions on the X platform are heating up. Some optimists believe that its mechanism creates sustainable real buying pressure, forming a “snowball” growth, and aligns with the Christmas theme; while some bearish groups argue that there is still a potential risk of the Dev wallet selling accumulated tokens for market making, and the current rise is still a short-term high-risk FOMO market. BlockBeats reminds users that Meme coin trading is highly volatile, largely relying on market sentiment and speculative hype, and has no real value or use case, so investors should be aware of the risks.