- StupidCoin surged 220% today, making it Solana’s biggest gainer, but questions remain about whether this rally can be sustained or if it’s just another speculative memecoin frenzy
- Originally launched as a joke, StupidCoin was Fred Krueger’s attempt to mock memecoins, yet it continues to defy expectations, fueling debates over hype-driven speculation in the crypto space
- Security concerns and market history raise doubts about StupidCoin’s future, with vesting measures in place to prevent a repeat of the January crash—will it hold or collapse again?
A lesser-known memecoin took the spotlight today on CoinMarketCap rankings, gaining a substantial amount of value while the rest of the market tumbled. While altcoins like Ethereum, XRP, and Cardano lost up to 6% in value on April 10 — the Stupid Coin managed to generate over 220% yields at one point during the day.
No, we are not attacking the memecoin by saying it is stupid. That would be mean. The actual name of the currency “StupidCoin”, under the ticker “STUPID”, is a memecoin launched on Solana’s blockchain in early 2025.
This memecoin impressed everyone today, gaining serious traction despite the bull market, and becoming the Solana ecosystem’s highest-growing token of the day. Currently, it trades at $0.0012, up by 45% in the day, adding up to impressive 117% profits over the week.
So, as stupid as it may be, it clearly struck a chord with traders looking for high-risk, high-reward plays. Whether driven by meme culture, pure speculation, or a well-orchestrated pump, StupidCoin (STUPID) defied expectations, surging while the broader market struggled.
What is the Stupid Coin?
The STUPID coin has arguably one of the coolest and stupidest creation stories in the history of cryptocurrencies. The token was created as a form of protest by Bitcoin maximalist Fred Krueger, on a live stream.
At the time, Krueger was trying to prove a point arguing that memecoins are… well… stupid. So he created one himself on pump.fun, burned some tokens, handed others out, and declared, “Stick to Bitcoin.”
According to DexScreener, the Stupid Coin launched on January 25 at a price close to $0.0001034. Shortly after STUPID holders were able to see the token surging by 17.551% in the span of two days.
However, the STUPID rally proved to be short-lived. Shortly after the surge, the token plummeted, falling well below its recent all-time high (ATH)—losing approximately 98% of its value from its peak.
While a chart like this doesn’t look particularly appealing — especially for a new token — it is worth considering that the memecoin chose a really stupid time to debut in the crypto market. By January 25, the entire market was already showcasing signs that the November rally was about to exhaust, something that ended up proving truthful now, three months later.
So while it may look like a STUPID pump and dump at first glance — when considering the conditions under which the memecoin entered the market, it’s clear that market timing played a major role in its downfall. Especially when considering that investors tend to avoid high-risk memecoins during periods of uncertainty, favoring more stable assets or cash positions until sentiment improves.
So, How Safe is STUPID?
With that said, this doesn’t mean STUPID is the safest choice. A Cyberscope audit reveals a 66% safety score, ranking the memecoin’s security as mid-tier. In comparison, Shiba Inu has a score of 88%, while fellow SOL-based meme Fartcoin scores 84% under Cyberscope’s assessment.
In fairness, STUPID is still a very new project with a market capitalization of only $1.22 million. For context – today’s rally moved around $2.42 million in STUPID trades, almost two times the market cap of the memecoin itself.
Despite being a Bitcoin maximalist, Fred Krueger has been involved in altcoins before. In 2017, he launched WorkCoin, a decentralized freelancer marketplace built on the EOS blockchain.
The project aimed to provide transparent, frictionless payments for freelance work, eliminating intermediaries and fees. It introduced skill-based job categorization, ensuring workers could showcase their expertise efficiently.
While WorkCoin had a legitimate use case, it struggled to gain widespread adoption, especially as EOS itself faced scaling challenges. Over time, the project faded, like many early blockchain experiments that couldn’t maintain traction.
Krueger has taken extra steps to avoid a STUPID dump, locking the tokens with StreamFlow for 1 year — vesting 500,000 STUPID every two weeks.
According to the Bitcoin maximalist, he took these precautions to prevent the same fallout that occurred with SAB121, another memecoin he was reportedly involved with. Allegations suggest that SAB121 saw significant wallet concentration and trading activity, with accusations of strategic sniping and large token holdings amidst its fallout.
So while Krueger as the founder notably does not have the best track record when it comes to altcoin innovations — at least he argues that he is taking extra steps to make STUPID less of a stupid investment.
The memecoin has a total maximum supply of 994.84 million tokens and is currently available on several cryptocurrency exchanges.
On that note, did you know WEEX is offering a 50% deposit bonus? Deposit and get a 50% bonus, up to 1,000 USDT. It’s a great way to increase your trading potential—make sure to take advantage before the offer ends!
