Cannabis Meme Coin $CANA Jumps 400% in Two Days

A new meme-themed token called $CANA soared by 400% within 48 hours of its debut, CryptoTimes.io reports. Initially dismissed as a joke, it rapidly caught on with cannabis-culture enthusiasts eager to profit. Within a single day, trading volume exceeded $40 mln, while unique wallet addresses rose 73%.

Developers promise to roll out a series of NFTs and exclusive events for token holders, hinting at marketing alliances with music artists who support the “cannabis movement.” Although many see this as a short-lived craze, the “green wave” is raking in substantial gains for speculators.

Critics note that meme-coin volatility has led to sharp crashes before. There are also concerns about regulatory scrutiny toward any “lighthearted” crypto. Nevertheless, $CANA remains one of the hottest altcoin topics, drawing buzz across the industry.