According to @KobeissiLetter, a memecoin attributed to Eric Adams surged to a peak market cap of about $580 million before plunging roughly 80% within minutes. Source: @KobeissiLetter, Twitter, Jan 13, 2026. The source adds that nearly $500 million in market capitalization was erased from the post-launch peak in the rapid reversal, underscoring extreme launch-phase volatility and liquidity risk for traders. Source: @KobeissiLetter, Twitter, Jan 13, 2026.