Yua Mikami's Memecoin, $MIKAMI, Drops over 87% after Launch

Japan's pop icon, Yua Mikami's memecoin, $MIKAMI, might just meet the fate of other celebrity memecoins, it seems, as it plummeted soon after the launch.

Yua Mikami, a popular Japanese pop icon, saw her memecoin, $MIKAMI, experience a significant downturn, potentially foreshadowing the fate of other celebrity memecoins.

As GMGN market data shows, the official memecoin MIKAMI of Yua Mikami was launched today at 2:43 with an opening price of $0.101 (market cap of $7.1 million), marking an 87.21% drop from the post-opening high of $0.79. On Bitget, $MIKAMI is trading at $0.0{5}6753, showcasing a 22.04% decrease in the past 24 hours.

This downturn is surprising considering that just a week ago, $MIKAMI successfully raised over $2 million in funding. The latest data shows the funding has gone up to 34.5 Million Mikami.

Mikami coin has already begun its airdrop and took to X to inform that funds sent after block #337466264 will be refunded. The statement went on, “We’ve also identified certain edge cases — such as direct transfers from exchanges, or deposits below the threshold. These will be handled individually and fairly at a later time. Thank you for your patience and trust.”

On 30th April, Yua Mikami announced on X that the initial offering of her memecoin, $MIKAMI, had officially begun, along with revealing the designated SOL deposit address. She clarified that $MIKAMI does not have a fixed price; instead, the final price will be determined by dividing the total amount raised by the total supply of tokens. Contributors will receive tokens proportional to their SOL contributions.

The project’s smart contract address will be revealed after the initial offering concludes. This offering phase will last for 72 hours. A disclaimer by the former adult star read, “$MIKAMI is intended to function as an expression of love on the blockchain. It is a memecoin with no intrinsic value or expectation of financial return. The coin is completely useless and for fun purposes only.”

According to the tokenomics, 50% of the total token supply will be allocated to Mikami herself and locked until 2069. The remaining tokens will be distributed as follows: 20% for the Firesale launch, 15% for liquidity, 10% to the community, and 5% for marketing.

The memecoin has plans to work with top-tier exchanges. Note that, currently, the total supply for the memecoin is 69,000,000 $MIKAMI. The tokenomics says that the allocation for Mikami Yua, which is 50%, will be locked until 2069.

Going forward, the memecoin project will also feature an upcoming ‘Burn Event’ and the launch of the Model Context Protocol (MCP), which is an AI agent designed to boost fan engagement and monetization.

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