1000CHEEMS Drops 8.88% Amid Profit-Taking and Record Trading Volume on Binance

1000CHEEMSUSDT experienced an 8.88% price decline over the past 24 hours, opening at $0.000563 and trading at $0.000513 on Binance. The price drop is primarily attributed to recent profit-taking and intensified short strategies among traders, as observed on social media and trading forums, following the announcement of new merchandise and media initiatives. Volatility has been elevated, with the token reaching a new all-time low of $0.0004851 on February 6, 2026, amid overall bearish sentiment and speculation characteristic of meme coins. The 24-hour trading volume exceeded $2 million on Binance, with market capitalization reported at approximately $116 million and circulating supply near 187.5 trillion tokens.