Fartcoin Price Rockets 60%: Is $2 Next Target?

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With the overall crypto market capitalization reaching $3.26 trillion, showing a 1.99% daily rise, there’s a small rebound observed in meme coins. For instance, Dogecoin (DOGE) has experienced a surge of 9.32%, currently trading at around $0.35, with a 24-hour volatility of 9.6% and a market cap of $51.35 billion. Similarly, Shiba Inu (SHIB) has grown by 5.67%, priced at approximately $0.000021, featuring a 24-hour volatility of 6.0% and a market cap of $12.56 billion. Even the somewhat unexpected Fartcoin (FARTCOIN) is displaying a steady bullish trend, currently valued at around $1.07, boasting a 24-hour volatility of 47.8% and a market cap of $1.07 billion. The growing energy surrounding meme coins has started to draw interest.

In the last 24 hours, Fartcoin has surged by close to 60%, putting its market value at approximately $1.12 billion and re-establishing the symbolic $1 price point. Fartcoin is making a name for itself as an underdog in the meme-based cryptocurrencies, sparking curiosity among traders due to its unexpected growth spurt.

Fartcoin Hits $1.15 Neckline

During the recent market downturn, the cost of Fartcoin plummeted from $1.61 down to a base level of $0.67. But, an unexpected surge of around 60% has pushed its price back up to $1.11. This swift recovery suggests a strengthening positive outlook among investors.

This event signifies a strong upward break of a local resistance trendline, coinciding with the 50% Fibonacci level at the $1 psychological price point. The bullish momentum overpowers the exponential moving averages (EMA), leading to a beneficial crossover, suggesting a clear shift in market direction towards an uptrend.

In addition, this situation has led to a beneficial intersection of the 20 and 200 Moving Average Lines, indicating a temporary rebound in the short term. Moreover, the Relative Strength Index (RSI) line on the 4-hour chart is approaching overbought territory, suggesting a potential buy opportunity for Fartcoin. These technical indicators are aligning with the current bullish trend.

Fartcoin Target Levels Extend to $2

At present, the meme token is encountering resistance near the 61.80% Fibonacci level priced at $1.15. If the upward trend continues, breaking above this 61.80% Fibonacci level would signal a bullish breakout from a rounding bottom pattern, potentially driving further price increases.

As a crypto investor, I’m eyeing the potential of a new all-time high formation near the 1.272 Fibonacci level, which roughly aligns with the $2 psychological mark. However, it’s important to remember that significant support can be found at $1 and $0.94. These levels serve as safety nets for traders, providing a potential cushion should prices fall.

Smart Trader Entry Boosts Confidence

As a savvy analyst, I’ve observed that Fartcoin is experiencing a bullish resurgence. In light of this, the astute trader 8TSfB has strategically exchanged 789,000 WIF tokens, currently valued at approximately $1.51 each. With a 24-hour volatility of 4.2% and a market cap of $1.50 billion, the trading volume for the past 24 hours stands at around $416.64 million.

Approximately nine hours ago, a whale amassed 1.04 million Fartcoins, equivalent to roughly $1.15 million. This whale activity is significantly bolstering the narrative and suggesting potential long-term investment opportunities in Fartcoin.

Beyond Fartcoin, the trader has long-term investments in several meme coins at present. The trader is currently sitting on a profit of $2.17 million from POPCAT, with each coin valued at approximately $0.56. Over the past 24 hours, POPCAT has exhibited a volatility rate of 10.6%. Currently, the total market capitalization for POPCAT stands at around $546.85 million, and over the same period, there have been transactions worth approximately $72.01 million. Additionally, the trader also holds profitable positions in WIF tokens, which are bolstering their trading strategy’s credibility.

The #FARTCOIN price surged 58%% today!

Smart trader “8TSfB” swapped 789K $WIF for the very first 1.04M #FARTCOIN ($1.15M) ~9 hours ago.

To highlight, this investor has been a pioneer in purchasing both $POPCAT and $WIF tokens. So far, they’ve accumulated approximately $2.71 million in earnings from these digital assets. At present, the…

— Spot On Chain (@spotonchain) January 14, 2025

The portfolio showcases 9.17 million POPCAT tokens valued at approximately $5.13 million and 3.3 million WIF tokens worth around $5 million. With investments in meme coins, the recent addition of Fartcoin by the astute trader underscores a strong belief. The actions of this substantial investor suggest a high level of trust in Fartcoin’s prospective growth.

In light of the recent flip in the crypto market trends, it seems plausible that the value of Fartcoin could break through the barrier of $2. The strong momentum and faith in Fartcoin indicate a potentially bullish future.

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2025-01-14 16:00