Faced with global uncertainty and financial turmoil caused by Trump's tariff policies, the cryptocurrency market has also seen significant changes. However, amidst the downturn, the meme coin Fartcoin has bucked the trend and surged. CoinGecko data shows that its price surged over 4% in the 8 hours to April 24, reaching $30 at one point, with a market capitalization of approximately $0.60 million (approximately NT$5.578 billion).
Solana, known asSOL coin, is the seventh largest virtual currency in terms of market capitalization today; and this meme coin, born in the Solana ecosystem, was launched in October last year, with a simple and direct official positioning: "zero application value". It never hides its speculative nature, allowing users to participate in fart-themed memes or jokes to earn tokens; however, because the community is very active on social media and launches interesting marketing and brand promotion, it often shows its disregard for market trends. For example, when the price of Bitcoin fell sharply before, Fartcoin was the first to rebound, with an increase of more than 10% in one day. And in December last year, when most small cryptocurrencies were at a low point,Its market value has exceeded the $10 billion mark.
Speculative funds pour into the memecoin market
Well-known trader "RookieXBT" pointed out on his account with nearly 50 followers that when the global market "collapsed," Fartcoin's trading volume increased instead of decreased. He marveled: "No other coin can do this." Another meme account "Not Jerome Powell" quipped: "Hot air always rises." Although the words were meant as a joke, they revealed the market's view that Fartcoin is purely driven by social media popularity and hype, lacking practical application scenarios.
In addition to Fartcoin, other meme coins have also outperformed the market recently. For example, Fartboy (FARTBOY), inspired by the comic character, rose 60% on the same day, with the price exceeding $0.03; others such as SPX6900 rose 11.5%, Cheems Token rose 10.5%, and Mog Coin soared 33%. Even the old meme coin Dogecoin is stronger than Bitcoin.
What's behind this meme craze?
Market analysts believe that amid heightened uncertainty, some funds are shifting to highly speculative, community-driven, and "irrational" meme coins in pursuit of short-term returns. Past events like GameStop remind us that meme coins are inherently short-lived. Therefore, investing in these sectors carries significant risk, requiring caution and effective risk management to avoid unnecessary losses.
