A cryptocurrency named Fartcoin, launched as a joke, has soared to a staggering $500 million market cap, driven by viral interest and memecoin mania.
Fartcoin, built on the Solana blockchain, originated as a playful token rewarding users for sharing flatulence-related memes, BeInCrypto reported.
While its features, like "digital fart sound" transaction effects, attracted niche interest, its popularity skyrocketed after mentions from influential crypto figures and a surge in memecoin trading.
"I'm telling you folks, this is now worse than the Tech Bubble in 2000. Few of us lived it," Martin Pelletier, Senior PM at TriVest Wealth, wrote on X.
$200million in Fartcoin
— Martin Pelletier (@MPelletierCIO) December 7, 2024
I'm telling you folks, this is now worse than the Tech Bubble in 2000. Few of us lived it. pic.twitter.com/tpxeVJvdwM
In late November, Fartcoin gained significant momentum, experiencing a 257% weekly surge, including a single-day jump of 58%.
Its price hit an all-time high of $0.60, and the coin now outvalues 38% of publicly traded U.S. companies.
Online communities and crypto traders have amplified its reach, coining phrases like "hot air rises" to signal its potential for further gains.
Fartcoin's future remains uncertain as analysts predict that its rapid ascent could be followed by a sharp pullback.
The token's success hinges on maintaining community engagement and meme-driven momentum.
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