Two tokens on Robinhood Chain, FAMI and JINQIAN, posted a sudden breakout on Sept. 2, reviving market talk around a new "stock meme" trade that links meme coins with tokenized equities.
BlockBeats reported that FAMI appeared first and drew a large amount of capital within minutes. More money then moved into JINQIAN, a meme coin paired with FAMI.
According to GMGN market data cited in the report, the two tokens reached market capitalizations above $40 million and $50 million. Their trading volumes expanded to $47 million and $35 million, respectively, within one hour.
Traders point to Rune’s Sept. 1 post
The move was widely tied to a Sept. 1 post from crypto KOL Rune, whose X account is @RuneCrypto_. In that post, Rune said: "I acquired most of the shares of a Nasdaq-listed company. The short interest is as high as 92.3%. It has $6.2 million in liabilities. I am tokenizing the equity on Robinhood Chain, and then I will pair a meme coin with the tokenized stock."
Rune added that even $500,000 in buy pressure from on-chain activity flowing into the underlying stock would be significant for a company with a $4.8 million market capitalization. He said $2 million in buy pressure would be even more dramatic, and argued that with 92.3% short interest, any upward move could trigger a squeeze.
He also described the structure in direct terms: the meme coin community would not need to buy the stock itself. Instead, traders would buy the meme coin, which is paired with the tokenized stock. Trading volume in the meme coin would then flow into the tokenized equity. Because the tokenized stock is backed 1:1 by real shares, Rune wrote that "on-chain demand = Nasdaq demand." He called it "the biggest crossover story in financial history, meme coin x Nasdaq."
Community speculation centers on Farmmi Inc.
As of publication, however, Rune had not endorsed either of the two tokens that moved on Sept. 2. Even so, community speculation focused on Farmmi Inc., the Nasdaq-listed company with the ticker FAMI, as the most likely name referenced in his post.
BlockBeats also cited BIT (bit.com) market data showing that FAMI shares jumped quickly after the market open and were trading at $0.3511, up 200% on the day.
Regulatory risk remains part of the story
BlockBeats cautioned users that Rune has not claimed any token connected to the move and said the episode carries regulatory risk. The outlet urged investors to stay cautious.
The report added that, regardless of whether the full narrative is ultimately confirmed, the possibility that on-chain token trading could exert such a large effect on a publicly listed company has already become a market event in its own right.
What "stock meme" means in this case
BlockBeats described stock meme as an emerging structure that directly combines a traditional meme coin with tokenized U.S. equities. Instead of pairing a meme token with USDT or ETH, the token can be matched with tokenized shares of listed stocks such as NVDA, TSLA, or AAPL.
In that model, the trade keeps the volatility and community-driven speculation typical of meme coins while attaching itself to the narrative and attention around real equities. The report said part of the trading fees can also flow back into a community treasury to accumulate the corresponding tokenized stocks, creating a dual engine of speculative sentiment and real-asset anchoring.