Amid the newfound momentum in the meme coins, Fartcoin ranks among the top performers. Aiming for a new all-time high, is it wise to invest in Fartcoin?
By Vishal Dixit
Edited by Julia Sakovich
Updated
3 mins read
With the total crypto market cap increasing to $3.26 trillion, a 1.99% intraday surge, meme coins are witnessing a minor recovery. Dogecoin DOGE $0.25 24h volatility: 2.4% Market cap: $37.31 B Vol. 24h: $1.59 B has increased by 9.32% over the past 24 hours, Shiba Inu SHIB $0.000015 24h volatility: 2.8% Market cap: $8.97 B Vol. 24h: $219.84 M by 5.67%, and Fartcoin FARTCOIN $0.33 24h volatility: 9.5% Market cap: $325.51 M Vol. 24h: $120.41 M is surprisingly making a gradual bullish move forward. The momentum in meme coins is gaining attention.
Over the past 24 hours, Fartcoin has increased by nearly 60%, reaching a market cap of $1.12 billion as it reclaims the $1 psychological mark. Fartcoin is positioning itself as a dark horse in the meme segment. Its sudden rise is drawing interest from traders.
During the market pullback, the Fartcoin price dropped from $1.61 to a bottom support of $0.67. However, the sudden recovery of nearly 60% has increased its price to $1.11. The quick rebound shows growing bullish sentiment.
This marks a bullish breakout of a local resistance trendline and the 50% Fibonacci level at the $1 psychological mark. The bullish recovery has surpassed the exponential moving average (EMA) lines and has resulted in a positive crossover. The trend reversal is becoming evident.
Furthermore, it has resulted in a positive crossover between the 20 and 200 EMA lines, reflecting a short-term recovery. The 4-hour RSI line has also neared overbought levels, signaling a buy signal for Fartcoin. Technical indicators align with the positive momentum.
Currently, the meme token is facing resistance at the 61.80% Fibonacci level at $1.15. In case of an uptrend continuation, Fartcoin closing above the 61.80% Fibonacci level will mark a bullish breakout of a rounding bottom pattern. This could fuel further gains.
This will increase the chances of a new all-time high formation at the 1.272 Fibonacci level, around the $2 psychological mark. On the flip side, the crucial support levels are at $1 and $0.94. The support levels act as a safety net for traders.
As Fartcoin makes a bullish comeback, a smart trader, 8TSfB, has swapped 789K WIF tokens WIF $0.62 24h volatility: 1.3% Market cap: $617.63 M Vol. 24h: $314.69 M to accumulate Fartcoin. Over 9 hours ago, the whale accumulated 1.04M Fartcoins worth $1.15M. Whale activity is adding strength to the narrative.
Apart from Fartcoin, the trader has long positions in multiple meme coins. Currently, the trader holds $2.17M in profit from POPCAT POPCAT $0.23 24h volatility: 12.1% Market cap: $230.14 M Vol. 24h: $57.75 M and WIF tokens. Profitable positions are boosting confidence in the trader’s strategy.
The #FARTCOIN price surged 58%% today!
Smart trader “8TSfB” swapped 789K $WIF for the very first 1.04M #FARTCOIN ($1.15M) ~9 hours ago.
Notably, this trader was an early buyer of both $POPCAT and $WIF, having realized $2.71M in profits from these tokens so far. Currently, the… pic.twitter.com/kGSCD00ibJ
— Spot On Chain (@spotonchain) January 14, 2025
The portfolio highlights 9.17M POPCAT tokens worth $5.13M and $3.3M WIF tokens worth $5M. With profitable holdings in meme coins, the new entry in Fartcoin from the smart trader highlights significant confidence. The whale’s moves reflect faith in Fartcoin’s potential.
Furthermore, based on the short-term reversal in the crypto market, the meme coin is likely to shatter the glass ceiling at the $2 mark. The momentum and confidence in Fartcoin suggest a bullish trajectory.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
