Renowned YouTuber MrBeast conducted a charity livestream, and the market cap of the related meme coin surged past $7 million before rug pull.

BlockBeats News, August 15th, Renowned overseas KOL MrBeast, who has millions of fans on YouTube, today held a charity live stream on the platform aimed at providing clean drinking water to remote communities in developing countries.

On this occasion, the Bags platform released a meme coin of the same name, stating that the token's royalties would be directly donated to this charity event. However, within two hours of the token's launch, its market value surpassed $7 million, but a related party rug pull caused the price to plummet to zero.