Fartcoin Trading Volume Drops Following Major Whale Sell-Offs
Fartcoin's recent surge of 75% is slowing, currently trading at $0.83, down 2% in the last 24 hours. Major whale sell-offs have raised investor concerns about a potential peak.
- Top five wallets realized over $8.9 million in profits.
- One wallet liquidated its position for $1.88 million; another retains $4.15 million in unrealized gains.
- A whale sold $4.29 million worth of Fartcoin at $0.90 and another offloaded 1.56 million tokens for $1.26 million.
- These sales decreased the market cap by approximately $150 million, now around $850 million.
- Fartcoin accounted for 5.43% of Solana's on-chain meme coin trading volume on Sunday.
- 71% of investors remain bullish according to CoinMarketCap’s sentiment indicator.
Technical analysis indicates:
- RSI at 66 suggests waning momentum.
- Bollinger Bands widening; resistance near $0.88 with support at $0.58.
- Potential breakout above $0.86 could aim for $1; failure might retest $0.78.
- Recent support-resistance flip noted at $0.80 with bullish outlook from analysts.
Source: TradingView.com
Source: TradingView.com