A memecoin styled as “A Meme Coin” and traded as $MEME on Robinhood Chain rose sharply over 150% on Sunday after traders said Robinhood co-founder and chief executive Vlad Tenev followed the project’s official account.
Vlad’s official following list on X and MEME’s official handle @amemecoinrh confirms the CEO following. To note, the token is paired with tokenized AMC stock and is not issued by Robinhood or AMC Entertainment.
In a widely shared post, trader Jeremy (@Jeremybtc) wrote that $MEME “candled from $40M -> $150M just from Vlad following the page.” The attached one-hour chart labeled MEME/USDG showed market capitalization near $40 million before a single large green candle, then about $110.95 million, a gain of roughly 179% on that snapshot.
DEXScreener data confirms that the token swiftly jumped from roughly $0.4 to as high as $0.1544 before cooling down. As of publishing (10:45 AM UTC, September 7), MEME is trading at $0.1174 with a 24 hour trading volume of $174 million—as per CoinGecko data.
However, neither Tenev nor Robinhood published a statement endorsing the token. A follow on X is a public action, not a listing, partnership, or investment recommendation.
Public fight over tokenized AMC stock set the stage
The rally followed days of open conflict between AMC chief executive Adam Aron and Robinhood over stock tokens. On September 3, Aron said Robinhood was behind tokenized “Stock Tokens” for AMC and more than 190 other companies, called the practice “contemptible, outrageous, disgusting,” and said outside securities counsel would review it. He stressed that AMC has no connection to the tokens and does not condone them.
Robinhood’s own disclosures state that Stock Tokens are not registered under U.S. securities laws and may not be offered or sold to U.S. persons. The company publishes restrictions at docs.robinhood.com/rhj.
Tenev later posted, “We stand behind Stock Tokens.” Robinhood Chief Legal Officer Dan Gallagher, quoting that thread, wrote that the firm would “not ‘DECIST’” and invited legal challenge.
Read: AMC–Robinhood Feud Fuels $MEME Token Past $100 Million in Hours
Why a single follow moved the market
Robinhood Chain launched on July 1 as an Ethereum layer-2 network aimed at real-world assets and tokenized stocks. Tenev has said the chain is being built for RWAs but “works great for memes too.” Traders on the chain have repeatedly treated follows from Tenev’s account as a liquidity signal, a pattern first seen earlier this year with other Robinhood Chain tokens.
That sensitivity cuts both ways. Memecoins can reprice in minutes when a high-follower account appears, and they can reverse just as fast when attention fades. Replies to the Sunday chart noted other possible buyers, including a trader who said Unipics had re-bought the token the same day. Those claims are unverified on-chain commentary, not company filings.
$MEME is not listed as an official Robinhood product, is not AMC equity, and carries the usual memecoin risks: thin liquidity, concentrated holders, and prices driven by social media rather than cash flow. Stock Tokens themselves remain restricted for U.S. persons. Market capitalization figures cited by traders are DEX-derived estimates and can differ by venue and moment.
As of Monday morning, the episode illustrates how quickly narrative, executive visibility, and on-chain pairing can collide. It does not settle the securities dispute between AMC and Robinhood, and it does not convert a follow into an endorsement.
Also read: McDonald’s India’s X Account Went From an ‘Unpaid Intern’ Rant to a Memecoin Push
