Swarms, the artificial intelligence proxy protocol operating on the Solana network, has announced a governance announcement proposing a buyback and burn mechanism for its SWARMS tokens. It was stated that the buybacks will be carried out quarterly under the planned mechanism.
Following the announcement, market data reacted quickly. According to GMGN data, SWARMS's market capitalization quickly surpassed $26 million and currently stands at $23 million. The token's price has increased by 11.5% in the last 24 hours.
SWARMS is currently trading at $0.02316, placing it at market cap at position 866. However, it has fallen 96.3% from its all-time high of $0.6145, which it reached on January 7, 2025.
Experts warn that investors should be careful, as most meme coins have no real use and experience high price fluctuations.
The token, which has a low market capitalization of $22 million, is traded on Binance Alpha, although it is not listed on the spot market on cryptocurrency exchange Binance.
*This is not investment advice.
