This is a 1 lb. Rainbowfish. Nobody knows where the name of this fish came from, it's quite mysterious.
This item never drops any seeds. This is a fish. It can only be placed in a Fish Tank. You can't divide fish into pieces.
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Rainbowfish is a fish introduced during St. Patrick's Week 2016 that can be obtained from fishing with the COTD Bait during St. Patrick's Week. Its maximum size is 150 lbs, but the bait can catch "Massive" fishes which are over the maximum size.