On May 8, 2025, the Yua Mikami meme coin (MIKAMI), which was recently launched on the Solana blockchain, encountered a significant price decline shortly after its debut. The token plummeted over 80% from its peak value, causing pre-sale investors to suffer losses of up to 60%.

Yua Mikami, a prominent figure in the Japanese entertainment industry, had no previous ties to the cryptocurrency sector. However, she leveraged her widespread popularity to introduce her own meme coin, MIKAMI, into the crypto market. Upon its release, the coin drew considerable interest from members of the crypto community.

An official statement from the Mikami Coin account on X indicated that the MIKAMI pre-sale concluded on May 3, 2025, raising more than 23,000 SOL, which equated to approximately $3.4 million at the time. The same account noted that 17,560 legitimate addresses were involved, contributing a total of 23,320.74 SOL. It was also mentioned that the team eliminated over 21,000 spam transactions involving deposits below 0.002 SOL. Pre-sale participants were rewarded with tokens corresponding to their contributions, resulting in an average acquisition cost of $0.245 per token.

Nonetheless, soon after MIKAMI officially launched and initiated its airdrop early on May 8, the token's price rapidly declined. Within just five hours post-launch, MIKAMI's price fell to $0.1, representing a 60% reduction for pre-sale investors.

At the time of reporting, the token's price has continued to decrease significantly, dropping more than 80% from its peak, with a current market capitalization of around $7 million. Price graphs on Dexscreener illustrate this downturn, showing MIKAMI plummeting from a high of $0.828 to $0.1 within a few hours.

The collapse of MIKAMI is not an isolated event within the meme coin market, which is known for its extreme volatility and dependence on group psychology. These types of tokens often lack substantial intrinsic value and are vulnerable to manipulation. In the case of MIKAMI, the immediate 80% price drop following its launch hints at a potential \"sell-off\" by major investors (whales). These whales accumulated tokens during the pre-sale phase and subsequently sold them upon listing.

Furthermore, data shows that MIKAMI's tokenomic design poses inherent risks: 50% of the total supply is locked for Yua Mikami until 2069, 20% was set aside for the pre-sale, 15% for liquidity, 10% for the community, and 5% for marketing.

The 15% liquidity allocation is considered relatively low compared to the usual 20-25% standard for meme coins, making the token's price highly susceptible to rapid changes under heavy selling pressure.

Simultaneously, MIKAMI's decline was also affected by general market conditions. At launch, the meme coin market was experiencing a downturn, with a 56.8% decrease in capitalization since December 2024. This made investors more prone to panic selling when prices fell, intensifying the downward pressure on MIKAMI, which already lacked liquidity and community backing.

The demise of the Yua Mikami Meme Coin (MIKAMI) exemplifies the inherent risks present in the meme coin market, where high expectations linked to celebrity status often fail to uphold token value.

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