JELLYJELLY, a meme coin on the Solana blockchain, experienced a significant price increase, surging 40% within 24 hours. The token reached a peak of $0.143 before stabilizing at $0.128, bringing its market capitalization to $128 million. Despite a slight pullback, market sentiment remains optimistic. However, Blockbeats cautions that meme coins like JELLYJELLY are known for their high volatility and lack of intrinsic value, urging investors to exercise caution. The recent surge highlights the speculative nature of meme coins in the cryptocurrency market.