%Fartcoin (CRYPTO: FARTCOIN), an increasingly popular %Memecoin among retail investors, led the cryptocurrency market higher to start the New Year, rising 47% on the first trading day of 2025.
Fartcoin, a highly speculative %Cryptocurrency, has now risen 3,300% in the past 12 months, climbing above $1.35 U.S. from only $0.04 U.S. a year ago.
Analysts say the continued rise of Fartcoin is a sign of the growing mania surrounding cryptocurrencies that has gripped investors in recent months.
The rise of Fartcoin and more substantial cryptocurrencies appears to be fueled by continued excitement for the crypto-friendly administration of incoming U.S. President Donald Trump.
Trump has promised supportive crypto legislation and to create a strategic %Bitcoin (CRYPTO: BTC) reserve.
Despite the excitement, many analysts are urging caution regarding cryptocurrencies, especially when it comes to speculative names such a Fartcoin that serve no real purpose.
Some analysts are now warning of a likely correction in the crypto market after a big run-up in prices since the Nov. 5 election in the U.S.
Bitcoin, the largest cryptocurrency by market capitalization, has now increased 125% in the past year to trade at $96,600 U.S. per token.
