According to BlockBeats, on August 15, the overseas renowned KOL MrBeast, who has hundreds of millions of fans on YouTube, conducted a charity live stream aimed at providing clean drinking water to remote communities in developing countries.
With this event, the Bags platform released a meme coin of the same name, claiming that the royalties generated by this token would be directly donated to this charity event. After the token's market value surpassed 7 million dollars within two hours of its release, the relevant parties conducted a rug pull, causing the coin's price to plummet.