It's not news that crazy things happen in the cryptocurrency space. But if someone told you a coin named Fartcoin (FARTCOIN) would run into a billion-dollar valuation and hit new highs every week, you might still scratch your head, trying to make sense of it all.
What happened: The Solana (CRYPTO: SOL)-based coin, having the most frivolous of names, soared 21% to become the market's third-best-performing cryptocurrency in the last 24 hours.
The coin hit an all-time high of $1.45 on Thursday before a slight correction. At its peak, FARTCOIN was worth more than Nasdaq-listed Papa John's International Inc. (NASDAQ:PZZA).
It boasted a market capitalization of $1.32 billion at the time of writing, with trading volumes jumping 228% in the last 24 hours.
FARTCOIN outshone mainstream cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which gained just 2.19% and 2.32%, respectively.
See Also: 'Pharma Bro' Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor
The meme coin has triggered polarizing opinions in the cryptocurrency space.
"Pharma Bro" Martin Shkreli said the coin was worth nothing and would go to zero.
i am saying Fartcoin is worth nothing and will go to zero. fuck you and your memes. PVP draining each other when we should be upliftin' and shit
— Martin Shkreli (@MartinShkreli) January 2, 2025
Meanwhile, a widely followed trader who goes by the pseudonym of Altcoin Sherpa has been on a FARTCOIN accumulating spree, attributing his confidence to the coin's strong meme potential.
Price Action: At the time of writing, FARTCOIN was exchanging hands at $1.36, up 21.6% in the last 24 hours, according to CoinMarketCap.
Photo Courtesy: file404 On Shutterstock.com
- Elon Musk's Return To Original X Avatar Causes Coin Themed On 'Kekius Maximus' To Crash 90% — Frog-Themed PEPE Slips As Well
