Summary

  • A memecoin called $JINQIAN on Robinhood Chain mimicked the FAMI ticker and drove extreme trading volume without any official tie to the Nasdaq company.
  • Farmmi stock surged as much as 350% on September 2 2026 on the back of that hype, even though no redemption mechanism exists.
  • Robinhood Chain DEX volume jumped from $200000 to $500 million in nine days during July 2026, spotlighting manipulation risks in the new chain.

A memecoin called JINQIAN hit Robinhood Chain. It copied the FAMI ticker from Nasdaq company Farmmi. Traders piled in fast.

The token sparked heavy volume. It lifted Farmmi shares without any real link.

Farmmi stock closed at $0.12 on September 1. It hit $0.50 the next day. Then it settled at $0.1501 on September 3. That's a 26.45% one-day gain. Retail bets on the memecoin fueled the jump.

"FAMI shares skyrocketed by as much as 350% on September 2 2026."

, Binance Square

Context

Robinhood Chain launched in July 2026. Memecoin trades exploded right away. DEX volume climbed from about $200000 to $500 million in nine days.

Traders noticed "Jinqian" in Farmmi filings. They launched the token on that hint. No link existed. Farmmi and Robinhood never confirmed anything.

Details

The memecoin's value touched $60 million on September 2. That was ten times Farmmi's market cap then. Prices dropped fast after traders saw the disconnect.

KuCoin noted the September 3 close at $0.1501. The rally came only from the memecoin. CryptoTimes and Binance Square logged the $0.50 peak. That confirmed the 350% surge.

Nansen called it a clear case of memecoin distortion on traditional stocks. No economic tie existed. Robinhood Chain had already seen days over $874 million in volume.

Outlook

Traders will watch for more ticker-copy tokens on the chain. Regulators might look at how this affects Nasdaq stocks.