A cryptocurrency trader made a massive profit by turning $712 into $3.95 million in less than a day. The gain came from buying Unicorn Fart Dust (UFD), a memecoin created as a joke on the Solana blockchain.
The trader purchased 48.02 million UFD tokens for $712. Hours later, the token’s value surged, giving the trader an enormous 5,546x return.
Imagine being a boomer…a silver and gold maxi.
Creating a memecoin called Unicorn Fart Dust $UFD, uploading a video about it to Youtube to try and prove your point that Memecoins are worthless and gold is the way.
Then watching CT max port the fart dust to a 10M+ Mcap with… pic.twitter.com/T05LUSdVGF
— Mr. MNTL 💰 (@MNTLMoney) December 18, 2024
What Is UFD?
Unicorn Fart Dust (UFD) is a memecoin launched as a satirical project. Its creator, known for supporting investments in gold and silver, created the token to make fun of the cryptocurrency market, especially memecoins.
The token was not meant to have real value, but it quickly became popular. Its market cap briefly reached as high as $23.5 million. This was surprising even to its creator, who had intended it as a social experiment.
Why Did It Gain Value?
Memecoins like UFD often depend on community hype. The token’s price soared as more traders joined in, leading to high demand and wild price swings. On some exchanges, UFD’s price changed by over 100% in just one day.
The token was listed on platforms like MEXC Global, where it traded against USDT. Low liquidity and sudden interest likely contributed to its rapid price increase.
The case of UFD shows how unpredictable memecoin investments can be. A token created as a joke ended up making one trader a millionaire overnight. However, these tokens often carry high risks, with prices driven more by speculation than by any real use or value.
