TL;DR
- A sudden memecoin meltdown sent shockwaves through digital markets as FARTCOIN tumbled 18% after a major whale cashed out millions in profit.
- Meanwhile, Solana’s co-founder renewed criticism of meme assets, adding to negative sentiment.
- Other top meme tokens like BONK and dogwifhat also suffered steep double-digit drops, signaling growing caution among investors betting on volatile, community-driven coins.
A brutal day for memecoins wiped billions from the sector’s market cap as profit-taking and harsh words from Solana’s co-founder Anatoly Yakovenko rattled traders. FARTCOIN slid to $1.08 after a whale sold 3 million tokens for $3.65 million, locking in a 349% profit on coins accumulated between February and March at a fraction of the current price. The same investor still holds nearly 1.9 million FARTCOIN worth about $2.15 million, suggesting the door remains open for more strategic exits or a future rebound play.
The broader memecoin market bled red ink alongside FARTCOIN. BONK plunged 14.87% to $0.00003025 while dogwifhat lost 9.04%, settling at $0.9907. Other fan-favorites like Dogecoin and Shiba Inu dropped 4.26% and 4.30% respectively, with DOGE now at $0.2225 and SHIB at $0.00001309. Pepe slipped 7.22% to $0.00001146. Even niche names like Pudgy Penguins and OFFICIAL TRUMP fell by nearly 10% and 5.26% each.
Solana Criticism Adds To Pressure
Yakovenko’s sharp rebuke of meme tokens and NFTs as “digital slop” with no true value has intensified the debate about whether these speculative coins offer more risk than reward. His comments come just as Gemini began accepting DOGE and SHIB as collateral for loans, highlighting the polarizing role of meme assets in crypto’s evolving financial ecosystem.
Despite the day’s wipeout, some traders remain undeterred. Pockets of the meme coin space still show resilience, with SPX6900 changing hands at $2.08 after a 5.69% drop, and FLOKI holding at $0.00001169, down 6.84%. Meanwhile, PENGU defied the crash trend, posting an 8.5% weekly gain, proving that volatility can cut both ways.
Looking Ahead For Meme Coins
For now, FARTCOIN’s next moves will likely hinge on whether other whales follow suit and cash out while prices remain above early-year levels. The spike in daily trading volumes suggests active speculation and shifting sentiment rather than an exodus of long-term believers. As volatility returns to meme assets, traders may look to time their entries and exits more carefully, balancing the thrill of big swings with the real risk of abrupt downturns.
