MAX meme coin plunges 86% after topping $13M market cap, Crypto Briefing says

An X account claiming to be the son of Tesla CEO Elon Musk launched the Solana-based meme coin MAX, which then swung sharply in price, according to Crypto Briefing. After Musk followed the account, MAX’s market capitalization briefly rose to $13 million. But after Musk unfollowed the account, the token fell 86%. On-chain analysis showed 47 wallets accumulated about 16.8% of the total supply, and 26 of them bought in within two minutes of the launch. The wallet operators are believed to have made about $2 million in profit before the price collapse. It has not been verified whether the account is actually linked to Musk’s son.