Fofar (FOFAR) Skyrockets Nearly 500%, What Happened?

Bittime - Fofar (FOFAR), a pig-themed token on the Solana network, is becoming a hot topic after its price shot up almost 500% in the last 24 hours. This drastic increase reminds investors that animal-themed coins are still the favorites in the crypto world.

Fofar Price Movement (FOFAR)

FOFAR price movements successfully rocked the market. In just one day, the price skyrocketed almost 500% to IDR 0.7 ($0.000044). In fact, it touched its all-time high before experiencing a slight correction.

However, bullish momentum is still strong. Trading volume jumped 663% to $2.5 million (around IDR 40.2 billion), enough to rank second on CoinMarketCap's crypto trend list. Even more impressive, FOFAR achieved all this in just three days since launch.

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FOFAR's success cannot be separated from the trend of characters from Matt Furie's Boys Club comic, which also gave birth to the famous Pepe meme. As the last character in the series to have his own token, FOFAR seems to be playing catch-up. 

Although no one can be sure whether this increase will continue, FOFAR has clearly caught the attention of the meme coin community.

Fofar (FOFAR) Bucks the Falling Price Trend

Interestingly, FOFAR is actually bucking the downward trend in the Solana meme coin market. Overall, the sector's market capitalization fell 7% to $6 million (around Rp. 96.6 billion) in a day, with trading volume falling to $1.5 billion (around Rp. 24.15 billion). 

Most of Solana's meme tokens also saw their prices drop. WIF and BOME fell more than 8% each, while POPCAT plunged 13%. The biggest casualty was BONK, Solana's biggest meme coin, which plunged nearly 17%.

This decline is not unique to Solana. On Ethereum, almost all of the favorite meme coins are also under pressure. PEPE experienced a big decline, even big players like DOGE and SHIB struggled to rise.

This widespread decline in the price of meme coins can be attributed to the weakening of Bitcoin. When Bitcoin goes down, coin memes tend to follow. Bitcoin's plunge in the last 24 hours seems to have dragged all the coins down, except for the high-flying FOFAR.

About Fofar (FOFA)

FOFAR Coin is an adorable meme token on the Solana network. This meme coin is inspired by the unique and adventurous character Fofar from the Boys' Club comic by Matt Furie. 

Embracing Fofar's cheerful charm, FOFAR Coin aims to unite and engage the Solana community, blending humor with the challenging world of crypto. As the latest sensation in the meme coin market, FOFAR is here to capture the hearts and minds of crypto enthusiasts.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.