Farmmi Shares Surge Over 320% Amid JINQIAN Memecoin Speculation
- Farmmi shares increased by more than 320% on Sept. 2, with trading volume rising to 867.2 million shares from just 5.76 million the day prior.
- The JINQIAN memecoin’s market capitalization briefly reached approximately $60 million during this trading frenzy.
- A fabricated acquisition claim by a trader named Rune sparked speculation linking Farmmi to the Money Mushroom token.
- An unofficial FAMI token was created on Robinhood Chain, mirroring Farmmi’s outstanding shares.
- When Farmmi stock peaked at $0.50, the onchain FAMI token traded at about $1.83, indicating a significant price divergence.
This surge in Farmmi’s stock price and trading volume coincided with a rapid rise in the JINQIAN memecoin, which was paired with an unofficial FAMI token on Robinhood Chain, despite no official link between them.
The trading activity highlights speculative interest in the memecoin market as evidenced by the substantial jump in both Farmmi shares and JINQIAN’s market cap during this period.(Source)
