The post Fartcoin Smashes $1 Billion Market Cap: The Meme Coin Shaking Up Crypto appeared first on Coinpedia Fintech News
The US Federal Reserve announced a 0.25% interest rate cut yesterday. However, its hawkish tone has negatively impacted the cryptocurrency market. In the last 24 hours, the meme coin market has seen a decline of 9.3%. At the time when various crypto markets were struggling due to the sudden shift in market sentiment, a Solana-based meme coin, Fartcoin, achieved a significant milestone. Dive in for details!
Fartcoin’s Record-Breaking Market Cap
Fartcoin, a new entrant in the meme coin market, recently achieved an impressive milestone of a $1 billion market cap. The performance helped the meme coin to enter the list of the top ten meme coins by market cap.
Now, with a market cap of $1,051,271,885, Fartcoin remains the ninth largest meme coin. This meme coin has experienced an astounding growth of 108.6% in the last seven days; it has outperformed almost all the other top meme coins, including Dogecoin, Shiba Inu, Pepe and Bonk.
In the last one hour, it has surged by over 4.9%.
Fartcoin Market Cap: Ups and Downs
In late October, the market cap of Fartcoin was just $77,362,059. On November 22, it reached a peak of $428,851,509. On December 3, it slipped to a low of $156,354,644. However, since December 8, the market cap has grown sharply.
Soon after achieving the milestone, Fartcoin’s market cap plummeted to $714,713,686. However, it swiftly rebounded back to above the $1 billion market cap level. At the time of writing, the Fartcoin market cap stands at around $1,051,271,885.
Growing Community Support for Fartcoin
Reports suggest that at least 47,000 holders have joined the Solana-based meme coin project in the last two months. Many see this as a testament to Fartcoin’s growing appeal and community support.
Fartcoin & Truth Terminal’s Viral Promotion
Reports indicate that ‘Infinite Backrooms’ chat rooms played a crucial role in helping Fartcoin to exponentially grow its popularity. As per reports, meme-driven discussions in these chat rooms created a snowball effect of interest and adoption.
In conclusion, Fartcoin’s rise highlights the power of memes and community in driving crypto adoption.