Meme coin CLAWSTR, part of the Base ecosystem, experienced a dramatic 95% drop in value within a day, with its market cap falling to approximately $9 million. The decline was driven by early investors cutting their losses, including the trader address "0xdc5," which incurred a $124,000 loss after initially recording floating profits. Other early investors, such as addresses "0x090" and "0xca6," also exited with losses. CLAWSTR, launched by Nostr founder Derek Ross and Bitcoin developer Alex Gleason, had previously surged to a market cap of $1.99 million. However, the recent sell-off highlights the volatility and speculative nature of meme coins, which are heavily influenced by market sentiment and lack intrinsic value or use cases.