(Disclosure: The author of this article holds $UFD tokens.)
I'm very excited that the first project HyperGamble is covering is Unicorn Fart Dust! I haven't seen this much genuine community excitement about a memecoin in a long time. Here's what you need to know about $UFD.
Unicorn Fart Dust was created by streamer ronsbasement. Ron is a boomer (actually Gen Xer) who has a daily YouTube show where he streams about silver, gold, and precious metals mining stocks.
A gold bug, Ron would say that fiat money (and crypto) is backed by nothing but unicorn fart dust! As a joke to skewer crypto, Ron created a memecoin named Unicorn Fart Dust on pump.fun on Dec. 16, 2024.
The coin reached a marketcap of $38mm within 24 hours of launching and quickly hit an all-time-high (so far) of $290mm. The coin has since been consolidating and is, at the time of this writing, at a marketcap of $138mm.
I'm bullish on Unicorn Fart Dust for several reasons:
1) Ron is charismatic, wholesome, and having a lot of fun with this project. He discusses it often in his daily streams and tweets, keeping the social momentum up.
2) $UFD was created to mock crypto but ended up becoming wildly successful. This is similar to how $DOGE was created and played out.
3) Key Opinion Leaders (KOLs) on Twitter haven't been talking about $UFD. This indicates that they weren't given allocations to promote the coin and therefore don't have large holdings to offload. Instead, the momentum on Twitter is coming mostly from smaller accounts.
4) Wintermute, a prominent market maker, is rumored to be buying up large amounts of $UFD, leading to speculation that it will be listed on centralized exchanges such as Binance.
One risk the project faces is that Ron plays a significant role as the face of the coin, which gives the project a "key man" risk. Yesterday, Ron's Twitter account was hacked, highlighting this risk. However, even in the face of the hack, the coin quickly recovered after a brief drop in price.
Given that hitting a $1B marketcap would be ironic and play into the unicorn theme of the coin, the UFD community has its sights on this target. I think $UFD achieving its unicorn status is possible, especially if it gets listed on a major exchange soon.
The views expressed in this article are the author's opinion and should not be construed as financial advice.
-The Coin Dude