I can't stop laughing at this uncle. He looks really likable, turning criticism into sales, hahaha.
Rons Basement, a video blogger with a certain influence on YouTube for his accurate insights into the gold and silver markets, recently launched the UFD Unicorn Fart Coin, which overnight became the focus of the crypto circle.
The original intention was just a satire on the speculative nature of the cryptocurrency market, but unexpectedly ignited the market, with the highest price soaring to $0.2244, a staggering increase of 500% within 24 hours! This left the crypto community in an uproar, with everyone discussing - could this be the next viral meme coin that crashes?
Basement joked during the live broadcast when launching the UFD meme token: 'The market cap of this fart meme coin once reached $500 million, which is larger than almost all silver companies I know.' Although he did not explicitly explain the origin of the name, it can be inferred from a video he released last year that he used 'Unicorn Fart' to describe Bitcoin, alluding to those 'worthless' things - which is clearly a jab at the bubble of Bitcoin and other altcoins.
However, how could this seemingly nonsensical token become popular so quickly? As of December 22 at 8 PM, the price of the UFD token had fallen to $0.128, with a market cap dropping to $127 million, but its explosive growth still exceeded everyone's expectations, even briefly becoming the sixth largest meme coin on the Solana blockchain!
In fact, this also shows the supportive role of the community for the coin:
The rise of UFD cannot be separated from the promotion of social media and internet memes, especially on platforms like X and Reddit, where UFD's popularity once reached unprecedented heights, and the enthusiasm of community users quickly propelled this token to the position of the second largest asset on the trading chain.
The swift reaction from the crypto community makes one ponder whether this 'internet culture' can really create lasting market popularity for a token?
However, there are voices questioning whether many people buy UFD not for its actual use, but merely to participate in speculation and excitement. In the absence of strong technical support and real application scenarios, can UFD maintain its market popularity? Many investors are well aware that this extreme volatility not only means huge profit potential but also comes with enormous risks.
After all, the rise of speculative assets often also signifies the lurking of bubbles.
Nevertheless, Basement has still won the support of the crypto community. Many fans believe that the reason UFD has achieved such success is precisely because Basement has demonstrated authenticity and honesty.
One user even stated: 'UFD's success is because you (Basement) haven't hidden anything. If you weren't honest, we wouldn't have today's success at all.'
But with the price drop and market fluctuations, will UFD face a 'flash crash' moment? Will it continue to soar at the forefront of social media, or will it quickly fall into decline? Many crypto investors are already questioning: will this become a classic case of 'abandon it and it falls,' or will it carve out an alternative path in the history of digital currency?
In fact, the future fate of UFD depends not only on whether it can break through price pressures but also on whether it can create application value or rely on the hype of social media and meme culture to maintain short-term price fluctuations. This is undoubtedly a noteworthy observation window for opportunities.
For long-term investors, UFD may just be a fleeting bubble - this market is still full of unknowns.
