Newly Launched Token 'Newrai' Sees Market Caps of $17.1 Million and $34,100

The meme coin Newrai has issued two tokens with the same name from the same address, resulting in market caps of $17.1 million and $34,100 for each token, respectively. According to BlockBits, on the 16th, the Newrai issuing address consecutively launched two tokens with the same name two days ago based on GMGN price data. The same issuing address also released the Xiongzhou token 22 hours ago, which has a market cap of approximately $186,100. On-chain, tokens with the same name are treated as separate assets if their contract addresses differ. Simply searching by name may lead to multiple tokens with the same name being displayed, so the actual trading targets must be distinguished through contract and issuing addresses. This case highlights the importance of verifying contract addresses over names in the meme coin market. BlockBits added that many meme coins lack real use cases and exhibit high price volatility, urging caution in investments.

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