Yua Mikami's Meme Coin (MIKAMI) Crashes Over 80% After Launch, Leaving Pre-sale Investors in the Red

Yua Mikami, the renowned Japanese entertainment star, had no prior involvement in the cryptocurrency domain. However, she decided to venture into the meme coin market by launching her own token, MIKAMI, on the Solana blockchain, aiming to capitalize on her fame and connect with her fans in the Web3 space.

Initially, Mikami’s coin generated considerable buzz among members of the crypto community. The Mikami Coin account on X announced the closure of MIKAMI’s pre-sale on May 3. It successfully raised over 23,000 SOL, which translates to approximately $3.4 million at the current exchange rate.

The same account confirmed the participation of 17,560 unique addresses, who collectively contributed 23,320.74 SOL. Notably, the team had to filter out over 21,000 spam transactions that involved deposits smaller than 0.002 SOL. Pre-sale investors will receive tokens in proportion to their contributions, with an average cost of 0.245.

Shortly after MIKAMI officially launched and began its airdrop in the early hours of May 8, the token’s price began to decline sharply.

As MIKAMI’s price dropped to $0.1, pre-sale investors faced losses of up to 60%. The token’s price has since fallen further, losing over 80% from its peak and leaving the coin with a market capitalization of roughly $7 million.

Price charts on Dexscreener show that MIKAMI fell from a high of $0.828 to $0.1 in just five hours after its launch.

The SHARP decline of MIKAMI is not surprising, considering the meme coin market is known for its high volatility and dependence on crowd psychology.

“Meme coin psychology: It’s not FOMO — it’s ‘maybe this one will fix everything'”

However, these tokens frequently lack intrinsic value and are prone to manipulation. In MIKAMI’s case, the 80% price drop immediately after launch suggests a possible “sell-off” by large investors (whales), who accumulated tokens during the pre-sale and dumped them once the token was listed.

Furthermore, an examination of MIKAMI’s tokenomics structure reveals inherent risks: 50% of the total supply is locked for Yua Mikami until 2069, 20% was allocated to the pre-sale, 15% to liquidity, 10% to the community, and 5% to marketing.

The 15% liquidity allocation is relatively low compared to the typical 20-25% standard for meme coins, rendering the token’s price highly susceptible to swift changes during periods of significant selling pressure.

Moreover, MIKAMI’s downfall was also influenced by broader market sentiment. At launch, the meme coin market was facing a downturn, with a 56.8% drop in capitalization since December 2024, rendering investors prone to panic selling when prices fall. This factor served to worsen the downward pressure on MIKAMI, which already lacked liquidity and community support.

The downfall of Yua Mikami Meme Coin (MIKAMI) serves as a textbook example of the risks inherent in the meme coin market, where high expectations tied to celebrity fame often fail to sustain token value.

As the token faces triple-digit percentage losses, pre-sale investors are now dealing with substantial losses on their investments in the hopes of a quick flip. However, the token's lack of liquidity and the broader market downturn have contributed to a swift and brutal collapse of Yua Mikami's coin.