Fartcoin, a Solana-based meme coin, has surged to a market cap of over $1 billion, making it the ninth largest meme coin despite a 9.3% decline in the broader meme coin market. With a remarkable 108.6% growth in the past week and support from 47,000 new holders, its popularity has been fueled by viral discussions in 'Infinite Backrooms' chat rooms.