This Viral Meme Coin Explodes 400% in a Day, Becomes 4th Largest Meme on the Market

TL;DR

One new cryptocurrency surged by over 400% in the past 24 hours, reaching a market cap of nearly $2 billion and becoming the fourth-largest meme coin.While its rise draws interest, the team warns of fake versions attempting to scam users, urging caution and due diligence before investing.

Entering the Market With a Splash

The meme coin sector keeps spewing new tokens, some of which become real sensations mere days after launch. The latest example is the bull-themed Black Agnus (FTW), whose price skyrocketed by over 400% in the past 24 hours and currently trades at around $0.0001812. 

FTW Price, Source: CoinGecko

FTW’s market capitalization exploded to almost $2 billion earlier today (September 17), making it the 50th-largest cryptocurrency and the fourth-biggest in the meme coin realm. The first three spots remain occupied by Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE).

The coin’s impressive performance follows its listing on the popular crypto data aggregators CoinGecko and CoinMarketCap. 

It’s worth noting, though, that the team behind FTW issued a warning that bad actors have created fake versions of the asset in an attempt to con users. “Always double-check the contract address before making any transactions,” the working group alerted.

CryptoPotato has previously advised people to enter the ecosystem after conducting proper due diligence and investing only as much as they are ready to lose. Those willing to check more vital tips feel free to watch our dedicated video below:

The Rest of the Gainers in the Niche

FTW is not the only meme coin charting substantial gains on a 24-hour scale. Some of the other top performers include NEIRO (+43%) and BABYDOGE (+13%). Their impressive spike could be linked to Binance, which introduced NEIRO/USDT and 1MBABYDOGE/USDT trading pairs earlier this week.

On the other hand, major meme coins like DOGE, SHIB, PEPE, FLOKI, BONK, BRETT, and many more remain in red territory. Dogs (DOGS) is the worst-performing token from the top 10 list, registering a 6% price decline.