What is Fartcoin? The most meme cryptocurrency has reached 500 million dollars

Fartcoin is the memecoin par excellence with no utility whatsoever, and the incredible thing is that it has amazed the world by claiming a market capitalization of over 500 million dollars.

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This event is surprising, since the era of memecoins is long gone. Their peak was in 2019 and 2020, but since the fall of Bitcoin around that time, almost all of them have been forgotten.

For those who don’t know, Fartcoin has no intrinsic value. Instead, the memecoin derives its entire value from a vibrant community dedicated to sharing jokes and memes related to flatulence.

The value of Fartcoin is so high that it could almost enter the SP 500

Even so, no one expected the memecoin to surpass 500 million dollars in market capitalization.

To provide context, let’s consider the fact that Fartcoin is now more valuable than an astonishing 38 percent of all publicly traded U.S. companies.

Of course, according to historical precedents, the memecoin season is still in its infancy. In previous cryptocurrency bull cycles, Bitcoin usually took the initial lead, followed by Ethereum’s Ether, and then memecoins began to record dizzying gains, crowning the peak mania phase of the cycle.

Currently, however, Bitcoin is still in its leadership phase, which gives credibility to the hypothesis that the market will likely see many iterations of Fartcoin before the current cycle ends.

Let’s consider the fact that many altcoins are still quite far from their all-time highs recorded in the previous bullish cycle.

Interestingly, BlackRock has provided another bullish boost to Bitcoin today by formally recommending a 1 to 2 percent portfolio allocation to spot Bitcoin ETFs.

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Meanwhile, it is possible that Fartcoin will register additional gains. But do not expect those gains to last. With these cryptocurrencies, it is best to stay away… at least if you value not having high chances of going broke.