Farmmi Stock Surges 321% on Memecoin Pairing, On-Chain Data Shows Token Unofficial
Farmmi stock surged 321% on Wednesday after a memecoin called Money Mushroom (JINQIAN) began trading against its stock token FAMI on the Robinhood Chain. However, on-chain data reveals FAMI is not an official Robinhood stock token; its supply of 37.43 million was created in two minting transactions, with the deployer wallet retaining 38% and managing price via a PoolRepricer contract. The token has no issuer or redemption mechanism and is unrelated to Farmmi stock. FAMI peaked at $1.83 and later traded at $0.2135, a 45% premium over the stock. At least 10 more memecoins were launched within 30 minutes.








