Fartcoin Surges 18% to Over $1, Reaches $1 Billion Market Cap
Fartcoin Overview
- Fartcoin's price increased by 18%, trading at $1.06.
- Market capitalization surpassed $1 billion, ranking it as the 62nd largest cryptocurrency.
- It became the largest meme coin on the Solana network, overtaking Bonk.
- Three crypto whales purchased 6.25 million Fartcoin for over $5.5 million.
Investor Sentiment
- Trading volume doubled in the last 24 hours.
- A prominent investor claimed Fartcoin will not drop below $1 again.
Technical Analysis
- MACD indicates strong upward momentum but is nearing overextended levels.
- RSI is at 67.6, close to overbought conditions, suggesting potential short-term selling.
- Key support level around $0.74, with a risk of falling below mid-$0.70s if the 20-day moving average is breached.
- Price is within an ascending parallel channel, indicating a possible test of bullish momentum.
Comparison with Bonk
- Bonk is consolidating between $0.0000095 and $0.0000138 amidst Fartcoin's rise.
FARTCOIN’s price chart. Source: TradingView
FARTCOIN’s price chart. Source: TradingView