According to BlockBeats, on October 5, the market capitalization of the Ethereum-based meme coin KABOSU surpassed $2.5 million, marking a 55.67% increase in the past hour and reaching an all-time high.

Earlier today, Ethereum co-founder Vitalik Buterin sold 16.03 billion KABOSU tokens through ParaSwap, converting them into 22.937 ETH, approximately valued at $55,600.

BlockBeats advises users to exercise caution when investing in meme coins, as they typically lack practical use cases and carry significant investment risks.