MEME, a customs-driven project inspired by a ConsenSys programmer's satire of the yield farming bubble, has gained almost 100% in 24-hours to post an all-time loftier of $one,775 later listing on Poloniex.

Since the start of September, MEME has gained more 900%, despite its supporters promoting the project through the slogan 'don't buy MEME.' MEME is currently the 254th-ranked crypto asset with a $48 million market cap, with more than than $17 million worth of MEME irresolute hands in the past 24 hours.

MEME/USD: CoinGecko

The project's unlikely rise began when ConsenSys' DeFi product lead Jordan Lyall created a mock-advertisement for a yield farming protocol generator dubbed 'The Degenerator.'

Within hours of the post circulating beyond crypto-Twitter, someone had created an ERC-20 nether the same name, and listed it on Uniswap nether the ticker 'MEME.' The 28,000 token supply was distributed via airdrop in batches of 250 to Telegram users inside 30 minutes of the token'southward cosmos.

The project at present comprises an "experimental protocol" that "brew[es] up some of the most exciting innovations in DeFi" by offering yield farming rewards in the form of meme-inspired non-fungible token collectibles.

Poloniex is the sixth substitution to list the token, following Uniswap, Balancer, 1inch, Hoo, Mooniswap. More than than 72% of trade takes place on Uniswap.

In response to MEME's meteoric bull-run, EthHub co-founder Anthony Sassano ('sassal0x') revealed that he was ane of the original airdrop recipients who had sold his tokens on solar day ane because he thought it comprised "just a random token with no use."

Had he hodled, his stash would be worth roughly $600,000 today.