What is FRED (FRED) Crypto Coin? The Truth Behind the Solana Memecoin

FRED isn’t a coin you buy because it’s going to change the world. It’s not a project with a whitepaper, a team of developers, or a roadmap. It’s a memecoin - a digital gamble wrapped in a raccoon mascot and built on Solana. Launched on November 1, 2024, through Pump.fun, FRED (First Convicted RACCON) was never meant to be an investment. It was meant to be a meme. And for a brief moment, it was a very profitable one.

What FRED Actually Is

FRED is a token on the Solana blockchain with the contract address CNvitv...N9pump. It has a total supply of 999,856,448 tokens, all of which were dumped onto the market the day it launched. There’s no staking. No governance. No utility. No team. Just a token named after a misspelled raccoon - “RACCON” - tied to the PNUT memecoin community. If you’ve heard of PNUT, you’ve heard of FRED. It’s a companion token, designed to ride the coattails of something bigger.

Think of it like a side character in a video game. PNUT is the main hero with a $2 billion market cap. FRED is the goofy sidekick that shows up in cutscenes and gets a few lines. Some people buy FRED because they love PNUT. Others buy it because they think they can flip it fast. Very few buy it because they believe in its future.

Price Chaos: Why No One Agrees on Its Value

Try to find FRED’s price and you’ll get five different answers. CoinMarketCap says it’s around $0.0009. CoinGecko says $0.00004. LiveCoinWatch says $0.0011. CoinCodex says $0.0015. Why? Because FRED trades on tiny, unregulated exchanges with almost no liquidity.

On November 15, 2024, FRED hit its all-time high of $0.2328. That’s a 26,000% gain from launch. But since then? It’s crashed 99.6%. Today, it’s trading at less than half a cent. And here’s the kicker: CoinMarketCap lists its all-time low as November 16, 2025 - which hasn’t happened yet. That’s not a typo. It’s a data glitch. And it’s exactly what happens when a token has no real trading volume.

One exchange reports $288,000 in 24-hour volume. Another says $157. The truth? FRED’s real volume is somewhere in between - and it’s all controlled by a handful of wallets. Solscan data shows the top 10 wallets own 58.7% of all FRED tokens. The biggest one holds 22.3%. That’s not decentralization. That’s a pump-and-dump waiting to happen.

How People Trade FRED (And Lose Money)

If you want to buy FRED, here’s the process:

1. Get a Solana wallet (Phantom or Solflare).
2. Buy SOL on an exchange like Coinbase or Kraken.
3. Send SOL to your wallet.
4. Connect to Raydium or Jupiter, a decentralized exchange on Solana.
5. Trade SOL for FRED.

Simple, right? But here’s where it gets dangerous. Because FRED has such thin order books, even a $100 trade can move the price 8-12%. You buy at $0.0009, but by the time your trade executes, the price is already at $0.0010. Then you try to sell. No one’s buying. You lower your price to $0.0008. Still no takers. You drop to $0.0007. Now you’re down 25% in five minutes.

Reddit user CryptoGambler420 lost $1,200 in one FRED trade. He said: “My $500 buy order moved the price 12%. When I tried to sell, there were no bids within 15% of the price.” That’s not a market. That’s a trap.

Why FRED Exists (And Why It Won’t Last)

FRED isn’t here to solve anything. It doesn’t pay dividends. It doesn’t power a dApp. It doesn’t have a team. Its only job is to be a social experiment - a way for the PNUT community to feel like they’re part of something bigger. And for a while, it worked. People bought it because their friends bought it. They sold it because their friends sold it.

But the memecoin market is collapsing. In January 2025, memecoins were worth $38.2 billion. Today, they’re worth $22.7 billion - a 40% drop. Companion tokens like FRED? They’ve lost 68% of their value in the same period. And now regulators are watching. The SEC warned in November 2025 that tokens tied to other tokens - like FRED - could be classified as unregistered securities.

Gartner predicts 95% of companion memecoins will be worthless or illiquid within 18 months. CoinDesk says FRED’s survival rate over two years is below 3%. Those aren’t guesses. Those are patterns from every memecoin cycle since Dogecoin.

The Real Risk: You’re Not Investing. You’re Gambling.

Michael van de Poppe, a crypto analyst with half a million followers, called FRED “a pure gambling instrument with no fundamental value.” He’s right. There’s no analysis you can do to justify buying FRED. No financial model. No revenue stream. No product. Just hype, social media, and hope.

Some people win. CryptoSlate found that only 8% of users who traded FRED made money. One user turned $75 into $320 in 45 minutes. But that’s like winning the lottery. The rest? They’re left holding a token that’s losing value every day.

The Telegram group for FRED has 12,500 members. Most of them are waiting for the next “pump.” The group is unmoderated. No one knows who runs it. Promises are made. Charts are shared. Then the price crashes. Rinse and repeat.

Should You Buy FRED?

If you’re looking for a long-term investment? No. FRED has zero chance of lasting.

If you’re looking for a quick, high-risk gamble? Maybe. But only if you treat it like a casino bet - not an investment. Only risk money you can afford to lose completely. Set a hard stop-loss. Don’t chase pumps. Don’t FOMO in because someone on Twitter said “TO THE MOON.”

And if you’re just curious? Watch it. Follow the price. See how the market reacts to PNUT’s movements. But don’t put your savings in it. Don’t sell your car for FRED. Don’t borrow money to buy it. This isn’t finance. This is entertainment. And like any entertainment, it only works if you know the rules - and you’re ready to walk away when the show ends.

Final Thoughts: FRED Is a Ghost

FRED has no GitHub. No team. No updates. No future. Its website, fredraccon.com, has no whitepaper, no roadmap, no contact info. Its Twitter has lost 25% of its followers since launch. Its trading volume has dropped 74% in a year. Its holder count is shrinking.

It’s not a coin. It’s a ghost - a digital echo of a moment that’s already passed. The raccoon is still there. The name is still on exchanges. But the energy? The hype? The movement? It’s gone.

If you see FRED on your screen, remember: it’s not a crypto project. It’s a meme. And memes die. Fast.