A Solana-based meme coin created by YouTuber Ronald Branstetter, a silver and gold maximalist, to show the worthlessness of such tokens has reached over $240 million market worth inside 48 hours of its launch, based on GeckoTerminal information.
The token, named Unicorn Fart Mud (UFD), was buying and selling at $0.213 at press time, marking a 214% enhance over the previous 24 hours. The venture started after Branstetter discovered about Fartcoin, the Solana meme coin that lately rose to a $1 billion market cap, from his spouse.
“The fart meme coin has a market cap of $500 million that’s greater than nearly any silver firm that I do know,” Branstetter mentioned throughout his Wednesday stream, when he first unveiled the USD meme token.
Branstetter didn’t explicitly clarify the thought behind the identify. Nonetheless, based on a video posted final yr, the YouTuber known as Bitcoin “unicorn fart mud,” a time period he used to explain one thing worthless or insignificant, right here Bitcoin and different altcoins.
Coincidentally, the Unicorn Fart Mud token was launched only a few days after the “Unicorn Fart” ending transfer was unveiled as a part of Name of Responsibility: Black Ops 6. This transfer, whereas undeniably humorous, has drawn criticism for its over-the-top and arguably disrespectful nature.
Branstetter’s USD token rapidly hit $6,400 in market cap after its launch.
“Persons are shopping for this factor which simply blows me away as a result of it’s nothing however unicorn fart mud,” Branstetter mentioned. “I’m not getting wealthy off it as a result of I solely personal like 1.2%.”
In his second stream on the identical day, Branstetter up to date that the USD token’s market cap had reached $23 million. He additionally famous that he bought half of his UFD holdings, pledging to distribute 20% of his earnings to his group of over 45,000 subscribers.
Assist for Branstetter’s USD token has grown amongst crypto group members who worth his honesty, although many have cautioned him concerning the dangers of scams and misinformation.
“The rationale it did so properly is since you’re sincere. It wouldn’t have labored out some other approach,” one viewer commented.
“Ron is de facto nice. Looks like our collective dad,” mentioned Yuga Labs co-founder Wylie Aronow.
Following the surge in USD’s worth, a memecoin named after Branstetter’s cat, Jasper, was created. GeckoTerminal information reveals that the JASPER token, which has no connection to UFD or Branstetter, hit a $2.3 million market cap and surged practically 1,500% within the final 24 hours.
It’s not clear if Branstetter will maintain engaged on the token, nevertheless it’s been a wild journey. He created it as a enjoyable solution to make a joke about how loopy the crypto world might be, and now it has a market cap of lots of of tens of millions. Even he’s shocked by how rapidly it took off.
