Traders turned Farmmi’s “money mushroom” JINQIAN into a memecoin and paired it with a fake FAMI token that looked like a tokenized Farmmi stock but had no real share backing. The hype spilled into Nasdaq, pushing real Farmmi shares from $0.12 to $0.50 while trading volume jumped around 150x, and JINQIAN briefly reached about $60M in market cap, nearly 10x Farmmi’s own value.
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