In a jaw-dropping turn of events, a crypto trader has been able to take a modest investment of $712 and turn it into a mind-blowing $3.95 million in less than 24 hours thanks to the meteoric rise of a new meme coin called Unicorn Fart Dust (UFD).
The gain came after the token’s price surged more than 5,500%, leaving the lucky trader with a whopping 5,546X return.
Unicorn Fart Dust, which trades on the Solana blockchain, was never meant to be anything more than a joke. Its creator, a supporter of traditional investments like gold and silver, launched UFD to make a point about the perceived absurdity and volatility of meme coins.
The creator explained in a video that UFD was created to emphasize the point of how out of control the crypto market has gotten, citing an example with another meme coin called Fartcoin, which briefly reached a market cap of $500 million.
The aim was obvious – to prove that most meme coins were worth nothing, and definitely, UFD was no different. However, to the best of the creator’s expectations, UFD started to be taken seriously. Within an hour, its market capitalization rose to $23.5 million, only to jump to a peak of $170.4 million by 2:52 a.m. EST.
Also Read: Fartcoin Breaks Above $800M Market Cap, $1B is Not So Far!
