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A crypto dealer managed to show $712 into $3.95 million in lower than a day buying and selling a brand new Solana meme coin by the title of Unicorn Fart Mud (UFD).
The huge good points come after the brand new token’s worth surged during the last 24 hours, netting a 5,546X return for the dealer. UFD’s constructive momentum continued in latest hours, with DEX Screener knowledge exhibiting the meme coin climbed greater than 70% in simply the final 6 hours.UFD Was Created To Strive Present That Meme Cash Are Nugatory
UFD’s creator is thought for supporting investments in gold and silver. He launched the undertaking as a joke in an try to point out that meme cash are nugatory and to make enjoyable of the crypto market.
In an uploaded video, the creator mentioned that the meme coin and broader crypto market has gotten “uncontrolled,” and referenced an article that talked about how one other meme coin known as Fartcoin reached a $500 million market cap as an instance his level. So as to add to his argument, he mentioned that he launched UFD to show simply how wild the crypto market is.
Think about being a boomer…a silver and gold maxi.
Making a memecoin known as Unicorn Fart Mud $UFD, importing a video about it to Youtube to attempt to show your level that Memecoins are nugatory and gold is the best way.
Then watching CT max port the fart mud to a 10M+ Mcap with… pic.twitter.com/T05LUSdVGF
— Mr. MNTL 💰 (@MNTLMoney) December 18, 2024
To his astonishment, UFD shortly gained traction, with its market cap briefly hovering to $23.5 million inside hours. Buyers have continued to purchase into the brand new crypto ever since, with its whole valuation standing at $170.4 million as of two:52 a.m. EST.
UFD Surges Regardless of Meme Coin Massacre
UFD’s steep rise bucked the general damaging development within the broader meme coin house. Following bearish rate of interest remarks from the US Federal Reserve Chair Jerome Powell yesterday, the meme coin market cap plunged over 8%.
The vast majority of the highest 10 largest meme cash suffered 24-hour losses. Amongst main meme cash by market cap, solely Pudgy Penguins (PENGU) and Fartcoin (FARTCOIN) had been in a position to put up good points previously day of buying and selling.
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