Farmmi (FAMI) Stock Rockets 350% Following Memecoin Launch on Robinhood Chain

Key Takeaways

• On September 2, Farmmi shares skyrocketed by as much as 350%, momentarily reaching $0.50 after closing at $0.12 the previous session.
• The rally was sparked by JINQIAN, a memecoin inspired by Farmmi’s mushroom product line, which debuted on Robinhood Chain.
• The accompanying FAMI token was not a legitimate Robinhood stock token but rather created by an unidentified individual.
• During its height, the memecoin achieved an estimated value between $60-70 million, approximately 10x Farmmi’s real market capitalization.
• By market close, the stock had relinquished most of its gains, settling around $0.15, while the memecoin plummeted more than 90% from its zenith.

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Farmmi (FAMI) experienced one of 2026’s most unusual trading sessions on September 2, despite the absence of earnings reports, corporate transactions, or official communications.

Farmmi, Inc., FAMI

Shares began trading near $0.12, matching Tuesday’s closing figure. However, by late morning, the price had climbed to $0.50, representing an approximately 350% increase.

The driving force? A cryptocurrency meme token.

JINQIAN, a newly launched token on Robinhood Chain, took its name from the “jinqian” or “money” mushroom variety that Farmmi markets. This token was matched with an onchain asset utilizing Farmmi’s FAMI stock symbol.

In roughly 60 minutes, the memecoin’s implied market value peaked between $60 million and $70 million, based on data from DexScreener and blockchain monitoring account Lookonchain. This valuation was approximately tenfold greater than Farmmi’s pre-rally market capitalization.

The speculative excitement subsequently spilled over into traditional equity markets.

The Token Lacked Official Authorization

The FAMI token associated with JINQIAN was not among Robinhood’s authorized stock tokens. An unidentified individual created it, and it possessed no legitimate backing.

In contrast to genuine Robinhood stock tokens representing corporations such as Nvidia or Micron, no mint-and-redemption system existed. Consequently, trading activity in the token had no actual connection to legitimate purchases of Farmmi’s Nasdaq-traded shares.

Farmmi released no communication linking the organization to the cryptocurrency. The stock’s ascent was driven entirely by speculative interest.

One participant profited substantially. Transparent blockchain data reveals an anonymous address invested approximately $19,000 into JINQIAN during its early stages, subsequently liquidating the entire holding about 60 minutes later for roughly $198,000, yielding a profit near $178,600.

Nearly all subsequent investors experienced losses. The token’s value collapsed over 90% from its peak in mere hours.

Trading Volume Revealed the Reality

Typically, Farmmi processes approximately 5 million shares daily. On September 2, over 720 million shares exchanged hands. This represents nearly 90 times the stock’s standard daily volume.

Farmmi operates as a small-scale Chinese agricultural products enterprise with merely 15 employees. Prior to Wednesday, its market capitalization stood at just several million dollars.

By late afternoon trading, the stock had surrendered the majority of its earlier advances. It concluded the session around $0.15, maintaining an approximate 27% gain for the day.

Currently, the JINQIAN memecoin is valued at roughly $0.0066, translating to a market capitalization near $6.6 million. This represents a dramatic decline from its transient $70 million peak achieved earlier during the trading session.

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Source: https://blockonomi.com/farmmi-fami-stock-rockets-350-following-memecoin-launch-on-robinhood-chain/