The potential ban of TikTok in the US has led to the emergence of a memecoin named MOMO on the Solana blockchain, which has surged 160x in just three days. This increase reflects the rising interest in crypto as social media users anticipate losing access to TikTok. The US Supreme Court is considering a bipartisan bill that would require TikTok's Chinese parent company, ByteDance, to sell the app by January 19, citing national security issues. As users seek alternatives, many are migrating to Xiaohongshu (RedNote), a Chinese app similar to Instagram. Founded in October, MOMO, which now boasts a market cap under $5 million, illustrates the vitality and unpredictability of the memecoin market, particularly as it capitalizes on current trends in social media and crypto. Despite its rapid rise, much of the crypto content on RedNote remains focused on major cryptocurrencies like Bitcoin and popular memecoins, suggesting that the platform may be ripe for further growth in crypto-related interests.

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