$FARTCOIN – Why Is This Memecoin Trending And What Is 'Hot Air Rises'?
KEY POINTS
- $FARTCOIN's market cap climbed above $320 million late Sunday night
- Token holders expect the memecoin to continue rising as prominent crypto traders stack up
- Crypto users observed that the $FARTCOIN community is quite 'organic' in their conversations
Memecoins are all about fun and jokes, but Fartcoin (FARTCOIN), a meme token that emerged from the conversations of AI agents, takes the joke to an earning level as it allows users to claim tokens when they submit fart jokes and other memes.
FARTCOIN has been around for a few months, but it picked up pace over the last few weeks, and by Sunday, it was a trending topic among cryptocurrency users on X. What makes this fart-themed meme token special and why is crypto going crazy over it?
What is $FARTCOIN?
FARTCOIN is a Solana blockchain memecoin that encourages people to "fart freely." It employs a "Gas Fee" system wherein every transaction produces a digital fart sound, adding an extra layer of fun for users.
It was "conceived" by famous AI agent Truth Terminal, which has a strong following on X. Truth Terminal rose to fame earlier this year after renowned innovation investor Marc Andreessen provided a $50,000 in Bitcoin grant to the AI bot following a series of conversations between the two.
This token is most commonly traded on Bitget, but it is also popular on Raydium and Meteora. In the weeks of Nov. 15-29, the memecoin was the second-best memecoin performer on the Poloniex Exchange, only behind Peanut the Squirrel (PNUT).
On Sunday night, FARTCOIN surged significantly, adding nearly 60% amid a seven-day rally of 35.2%. It's also been up by more than 300% in the last 30 days, as per data from CoinGecko.
Why is $FARTCOIN Trending?
It appears the token's price was affected positively by growing interest in the crypto community for the quirky memecoin.
Over the weekend, several prominent figures in the space have been talking about FARTCOIN, including kook from Kook Capital. Kook expects the token to be "the next memecoin talked about across all financial media outlets." He went on to add that "TradFi boomers are so mad about this coin."
Tojo, another popular figure in the crypto community, revealed Sunday night that he has acquired a six-figure stake in the memecoin.
One trader expects FARTCOIN to "flip GOAT," one of the recent tokens that saw much hype around it. "The higher it goes, the more anger it generates," the trader said.
Westie, an influential name in the industry, sees FARTCOIN as "the most reflexive meme in history," noting how holders feel extremely bad when the memecoin's price plunges but then when it surges, "there's nothing that can compete with the attention and mindshare."
What is 'Hot Air Rises'?
As FARTCOIN became a hot trend on X over the weekend, the term "hot air rises" also spread like wildfire as holders of the meme token flooded the social media platform with the phrase.
Most crypto users believe that "hot air rises" means the token's price is only headed upwards or it is positioned for a significant pump. One user noted that the phrase is "basic memeconomics" that simply means FARTCOIN's price will go up.
In science, hot air rises when it is heated. Holders of the token may be associating the recent hype around the memecoin that they expect will trigger a price pump as is the case with other major cryptocurrencies such as Bitcoin and other top altcoins that react positively to good news.
Also, the community around FARTCOIN is getting a lot of praise from other crypto users who noticed the "organic" nature of the community. "Nothing about them feels forced," said one crypto user, to which a FARTCOIN holder responded, "It's a force of nature. We don't make the rules. We just fart."
Well-followed Gammichan expressed his excitement for being part of the unique and "organically motivated" community of FARTCOIN holders, calling the brood the "stink marines."
FARTCOIN has reached a market cap above $320 million as of late Sunday night.
© Copyright IBTimes 2024. All rights reserved.