The 114514 coin, born from a legendary Japanese meme, has skyrocketed by 500% in the past 24 hours. When I woke up this morning, my timeline was filled with posts about this coin, and I was like, "What is this?"

Turns out, it's based on the Japanese classic internet meme "Midnight Seduction," and it's a token issued on the Solana chain by a game developer called "Kaede Games." As of the 5th, its market cap was around 2.3 billion yen, but now it has ballooned to 6 billion yen. The 24-hour trading volume also exceeds 3.4 billion yen, and it seems quite a few individual investors are jumping in with amounts around 114,514 yen.

The price briefly hit $0.046 but is now stabilizing around $0.038. Honestly, meme coins are extremely risky. The official accounts only have two verified ones, and there are a lot of fake coins circulating. Many people are investing small amounts in units of 114,514 yen, but there's a real risk of rug pulls or liquidity drying up—an abrupt crash could happen at any time.

Many Solana meme coins have become worthless within days. This coin could do the same. Once the hype dies down, it could all end in an instant. Be very cautious about information from sources other than official accounts. A loss of 114,514 yen might be acceptable, but large investments are really dangerous.