Fart Coin Goes From Giggles To Gains As Meme Coin Hit New Highs, Equals Papa John's Valuation

It's not news that crazy things happen in the cryptocurrency space. But if someone told you a coin named Fartcoin (FARTCOIN) would run into a billion-dollar valuation and hit new highs every week, you might still scratch your head, trying to make sense of it all.

What happened: The Solana SOL/USD-based coin, having the most frivolous of names, soared 21% to become the market's third-best-performing cryptocurrency in the last 24 hours.

The coin hit an all-time high of $1.45 on Thursday before a slight correction. At its peak, FARTCOIN was worth more than Nasdaq-listed Papa John’s International Inc. PZZA.

It boasted a market capitalization of $1.32 billion at the time of writing, with trading volumes jumping 228% in the last 24 hours.

FARTCOIN outshone mainstream cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD, which gained just 2.19% and 2.32%, respectively.

See Also: ‘Pharma Bro’ Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor

The meme coin has triggered polarizing opinions in the cryptocurrency space. 

"Pharma Bro" Martin Shkreli said the coin was worth nothing and would go to zero.

Meanwhile, a widely followed trader who goes by the pseudonym of Altcoin Sherpa has been on a FARTCOIN accumulating spree, attributing his confidence to the coin's strong meme potential.

Price Action: At the time of writing, FARTCOIN was exchanging hands at $1.36, up 21.6% in the last 24 hours, according to CoinMarketCap.

Photo Courtesy: file404 On Shutterstock.com

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