Another savvy investor has bought Unicorn Fart Dust (UFD) tokens, a meme coin that was launched three days ago. The purchase shows that UFD has huge support from the crypto community.
Onchain Lens spotted a whale who had accumulated massive amounts of UFD tokens in the last 48 hours. According to the on-chain metrics tracker, the trader spent 9,422 Solana tokens (worth $1.79 million) and 2.53 million First Convicted Raccon (FRED) tokens (worth $6,740) to buy 13.98 million UFD tokens. As per the blockchain analytics platform, currently, the trader is enjoying an unrealized profit of $831,000.
Crypto investors buying UFD
The move by the whale to invest in UFD justifies that the meme coin has the potential to give what investors and traders want. Many meme coins, including UFD, have gained popularity, attracting multiple crypto users to capitalize on their explosiveness.
Immediately after Unicorn Fart Dust’s launch, a brilliant trader used $712 to buy UFD tokens and managed to rake in a whopping $3.95 million profit in less than 24 hours. The trader earned the gains after the asset’s value rose more than 5,500%, making him realize a staggering 5,546x return.
On December 20 at 2:00 PM, UFD was launched on the Solana blockchain through the Pumpfun platform. It rapidly gained popularity following its 162,000 daily record transactions, with more than 35,000 users holding the tokens.
These figures show active engagement and robust community interest in the coin’s ecosystem. The token’s success indicates a rising number of users are interested in speculative investments, even in assets lacking fundamental utility.
UFD price analysis
UFD is currently trading at $0.1894, up 69.8% in the last 24 hours. Its trading volume is down 55.30%, signaling a recent decrease in market activity. This drop happens because of the increase in profit-taking activity after its tremendous surges. While this price consolidation introduces volatility, it may attract new users searching for an entry point to buy the coins. Token accumulation could open the door for UFD’s market recovery.
Unicorn Fart Dust is a meme coin created by a YouTuber Ron Basement, an enthusiast of traditional financial instruments like Silver and Gold. The founder created the meme coin to mock the digital asset world, arguing that cryptocurrencies, including UFD, hold no inherent value. But instead of proving that statement, UFD traded incredibly well and ascended its value, hitting an amazing $240 million cap within two days.
UFD was launched as a joke, to poke fun at the speculative craze in the digital asset landscape. But within 48 hours following its launch, UFD became the second most traded on-chain asset, following prominent players.
The token rode on social media hype and the wave of internet memes to climb its way to become the sixth biggest Solana-based meme coin. Its tremendous achievement can be accredited to online hype and user sentiments. Social platforms such as Reddit and X were whizzing with discussions about the meme coin, with users joining the bandwagon for its excitement. This highlights the strength of internet culture and the power of memes to influence market trends instantly. However, its explosive growth highlights the wild, volatile nature of the crypto landscape.
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