‘All Gas No Brakes’: Fartcoin Keeps Rising as Dogecoin Sinks to Weekly Low – Decrypt

Dogecoin and other leading meme coins are down over the past day, cooling off alongside major cryptocurrencies just one day after Bitcoin pushed to a new all-time high price above $108,000. But one recently hot meme coin is bucking the trend.

Despite the doom and gloom elsewhere in the market, Fartcoin (FARTCOIN) just keeps rising. It’s up 13% over the last 24 hours at a current price of $0.933, per data from CoinGecko, dipping slightly after climbing to a new all-time high price above $0.95 on Wednesday morning and nearing a $1 billion market cap.

Inspired by flatulence and buoyed by a community of degen traders spouting catchphrases like “Hot air rises” and “All gas no brakes,” Fartcoin has gained both value and prominence in the last couple weeks following its launch in October.

Fartcoin recently became a popular target for traditional investors mocking the more inane corners of the crypto world, pointing to its dramatic surge in value compared to other types of investments. But that mockery only appeared to fuel the Solana meme coin, prompting viral social media posts and plenty of chatter over the goofy token.

The meme coin has nearly doubled in price over the last seven days amid the surge in attention, rising 96% during that span.

But FARTCOIN is an outlier in the current market, with Dogecoin leading a red streak up and down the meme coin charts.

DOGE, the original and most valuable meme coin by market cap, has fallen by more than 5% over the last 24 hours at a current price of $0.383. It’s down substantially after touching a three-year high price of $0.48 just over a week ago, hitting a weekly low of just above $0.38 overnight.

Other major meme coins are down too, with Shiba Inu (SHIB) falling 6%, Pepe (PEPE) and Bonk (BONK) down 8%, and Bitcoin Runes token DOG•GO•TO•THE•MOON down 10% in the last day after setting an all-time high price just one week ago.

Broadly, the crypto market is down 5% over the past day, with Bitcoin dipping 3% to a current price of $104,325.