Solana meme tokens are still capable of serving surprises after a wild year. The latest token to break out unexpectedly is UFD, among the many tickers created as a joke on Pump.fun. A YouTuber with an investment channel for silver and gold decided to mock crypto tokens, which unlike precious metals have no intrinsic value. Basement Ron, known for his investment advice on traditional markets, launched UFD on Pump.fun to mock useless tokens. UFD just survived its first three days in the trenches of Pump.fun, and was quickly taken up by meme token influencers. Basement Ron used his own YouTube channel to present his token invention, named Unicorn Fart Dust. The name was like catnip to meme traders, who took the market cap above $150M in hours. YouTube fame was nothing new for Basement Ron, so he went on to capitalize on the token’s success. In addition to the Solana asset, he set up an auction for his Bitcoin bubble gum machine on EBay. Hello everyone, if anyone decides to buy the RONS BASEMENT art, the "Bitcoin bubble Gum Machine", all proceeds go to Susie's Christmas gift 🙂 I forgot to say that during the live stream. Have a great day. Ron from the basement https://t.co/gLPpWUvvPM pic.twitter.com/lENAM2wRqd — RonsBasement (@BasementRon) December 19, 2024 At the time of writing, the machine had 38 bids up to a price of $3,550. Basement Ron also kept up the live streaming hype, moving over from YouTube to X. The token creator’s involvement is boosting the numbers for UFD, while risk-driven buyers are enjoying the rise of the token from ‘the trenches’. UFD is also gaining influence for being created by a ‘boomer’, but appealing to the new wave of Gen Z token traders. UFD posts gains only on paper Just like other unexpected memes, UFD took off despite the creator’s scepticism. As with other hot memes, UFD has been sniped early, so its rally to over $200M created multiple high-value wallets with unrealized gains. The longer the token survives, the stronger its community and a commitment to hold until the asset breaks to a higher price range. UFD peaked above $0.27, and has been sliding for hours. The token still consolidates around $0.15, with a market cap of $169M. The token is one of the promising assets with the potential to make it into a mid-range asset valued at $500M. However, the first batch of UFD millionaires may not be able to realize their gains. In fact, they would wipe out the token if they sold. The token has 11 wallets with millions in unrealized gains. Interesting situation with $UFD : 11 "paper millionaires" (unrealized profits) but only $3M in liquidity. Meaning just 1-2 can actually become real millionaires. Let the race begin. pic.twitter.com/ASOJVBItkk — dethective (@dethective) December 19, 2024 Some of the gains were dramatic – a trader sniped UFD early for just $90, turning the holdings into $3.25M unrealized gains within 48 hours. Later, the gains turned lower, but still retained $2.5M in notional value. One of the reason for the token’s success may be the recent rally of FARTCOIN above $1.12. Meme token traders in the trenches set up their sights on any derivative names or tickers that could benefit from the trend. The UFD trading pool on Raydium, however, only drew in $3.4M of locked liquidity. Experienced meme token traders may wait and hype up the asset more, until it gains liquidity. Decentralized trading and low liquidity can inflate a token to outsized valuations, despite the low real liquidity. The token is already spread to more than 36K Solana wallets, a speed that even older meme assets with deliberate marketing could not achieve in months. The token’s success is based on a YouTube channel with over 49K subscribers, which serves to replace the Pump.fun live streaming feature. What is more encouraging for UFD is that there are few wallet clusters, and the supply had no time to be sniped. There is no organized team to buy up UFD or include market makers. The largest holder owns 4.8% of the supply in the top wallet. An address labeled as ‘Dev’ holds just 0.65% of the UFD supply, and is ranked 13th among top holders. The holdings ratio may change with time, as traders swoop in, especially if UFD corrects. The token also shows no signs of being rug-pulled, as even the asset’s creator has not bought up his own supply. This makes UFD less of a risk compared to celebrity or cabal tokens. Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
