Canto Token Price Surges 100% Despite Operational Issues

Canto, a blockchain network, has experienced a significant surge in its token price despite facing operational challenges. The price of Canto's token increased by 100% after the network went down for more than a day, drawing attention from the market. This rise in value occurred even as the chain stopped working and was delisted from perpetual contracts, with market sentiment turning negative. Canto's token had also risen by 36% after being perceived as a meme coin. The situation has led to discussions about Canto's transformation into a meme coin, with some suggesting the creation of a new layer on top of Canto for meme-based projects.