BRAIN market cap plunges from $35M to $1.8M after Coinbase CEO changes profile photo

BRAIN, a Base-based meme coin also known as Coinbase Man, saw its market capitalization fall from a peak above $35 million yesterday to about $1.8 million, according to GMGN data. The token was down more than 93% over the past 24 hours, while trading volume during the same period was about $14 million. BRAIN is a meme coin based on the B20 token standard introduced through Base chain's Beryl upgrade, and its name is derived from Coinbase CEO Brian Armstrong. Community interest surged and the price jumped after Armstrong changed his X profile picture to one resembling the BRAIN logo, but selling pressure expanded sharply after he later changed the profile picture again.