The memecoin market has seen a slew of tokens coming in, but in recent weeks, one meme token has grabbed the attention of cryptocurrency whales – crypto holders who buy and hold digital currencies in large amounts: Unicorn Fart Dust (UFD).
Created by gold and silver YouTuber Ronald “Ron” Branstetter, UFD is not even a month old, but it is already on the way to a $200 million market cap.
UFD is up over 30% in the day and has seen an increase of 70% in the last seven days, making it one of the past week’s top gainers and also a Bitcoin outperformer.
Whales Snap Up $UFD
Data from GeckoTerminal shows that there has been increasing buying activity around the UFD token among whales in recent days.
On Sunday, one whale purchased over 44,000 coins worth some $8,500. Another whale bought more than 26,000 tokens worth over $5,000, and earlier in the day a whale snapped up more than 56,000 coins worth over $10,700.
Several other whales bought the following amounts over the weekend:
- 35,000 tokens worth more than $6,800
- 48,900 tokens worth more than $9,400
- 44,000 tokens worth more than $8,500
- 49,300 tokens worth more than $9,500
- 52,200 tokens worth more than $10,700
There were other whales who sold their UFD stash, but the buying whales far outnumber those who dumped their coins.
Blockchain developer Param noticed the whale activity around the relatively new memecoin, saying he almost dropped his phone as UFD was “pumping so hard” over the weekend. “Big whales are buying in like crazy!” he observed.
$UFD’s Community Growing Strong
Since memecoins gained traction in the broader crypto space, communities have been the lifeline of meme tokens. In the case of UFD, the community has been strong since Day 1.
Branstetter, who goes by Ron’s Basement on X, has been holding Spaces with guests who are also experts in the industry. UFD holders have also shown much engagement since the token’s launch, allowing the coin to be on X’s trending business and finance lists multiple times since late December.
UFD holders now call themselves “Dusters,” and the community just keeps growing as more people get blasted by “Unicorn Fart Dust.”
$UFD Creator’s Journey
While some UFD holders may have been attracted to the entertainment and fun around the memecoin, others appear to be attached to Branstetter’s story, having been dropped by some of his sponsors since he started talking about crypto.
After losing sponsorships, Branstetter has obtained sponsorship from crypto transfers and fintech firm MoonPay. MoonPay’s enterprise president Keith Grossman has said the company sponsors Branstetter because “not only is Ron a MoonPay customer, but also a curious individual who is interested in how to embrace this new technology.”
Popular crypto wallet Phantom has also hinted that it may have plans around sponsorship as well. “If @BasementRon is a fan of Phantom, Phantom is a fan of @BasementRon,” the Phantom team wrote.
Unicorn Fart Dust’s journey is just beginning, but as early as now, the memecoin is already making a name for itself in a blockchain segment that has yet to gain the same levels of recognition as altcoins.
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