TikToker makes ‘scamcoin’ as a joke and within an hour it’s worth $70M
How this works:
You have 1 billion coins.
You sell 100 coins to someone for $100.
Now you have nearly a billion dollars (market cap). But, do you really? Actually, you don't. Not if nobody is willing to pay you for the rest of the coins. The market cap is a bad estimate when the actual liquidity is small ($100). When you try and sell the rest of the coins, the market cap bubble will normalize.