Despite the collapse of altcoins, Fartcoin's market cap briefly surpassed $1 billion

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The Solana-based memecoin Fartcoin has risen by 113% in the past 30 days, briefly surpassing a market cap of $1 billion on December 18, even as most altcoin markets experienced double-digit declines that day.

After the Federal Reserve announced a 25 basis point rate cut and hinted that the rate cut in 2025 may be lower than previously expected, the overall cryptocurrency market fell into a downturn, while Fartcoin (a meme coin with no utility) stood out.

The biggest losers among altcoins in the past 24 hours were Dogwifhat at $2.25, down 16.92%, Bonk at $0.00003089, down 15.24%, and Theta Network at $2.28, down 14.84%.

Some people are casual about Fartcoin's market cap rising to $1 billion.

Investor Brandon Beylo stated in an X post on December 18, "The most interesting outcomes are often the most likely," and noted that investors are "fleeing to Fartcoin for safety."

Meanwhile, Bone Fide Wealth President Douglas A. Bentforth mentioned in an X post, "The Federal Reserve cannot own Bitcoin, but they made no mention of Fartcoin."

On December 9, Syncracy Capital co-founder Daniel Cheung stated that traders may have more time to take advantage of buying opportunities in this cycle.

Syncracy Capital co-founder Daniel Cheung remarked, "There will be volatility this month, but the pullback may present a 'buy the dip' scenario, and the duration will be much longer than everyone expects."

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