Farmmi (FAMI), a small Chinese company specializing in dried mushrooms, surged up to 350 % this Wednesday before falling back to around $0.002. The move was triggered by the launch of a memecoin called JINQIAN on the Robinhood Chain, whose name means « silver mushroom » in Chinese. Over 720 million shares changed hands, nearly 90 times the average daily volume. The FAMI token used in this pair is not an official stock token, meaning there is no convertibility mechanism with the shares actually listed on Nasdaq. Farmmi had recently received a Nasdaq warning for remaining below the $1 threshold for 30 consecutive sessions.
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