The meme coin market is known as one of the most volatile areas of the crypto world, as well as one with the highest potential for profit. While many projects have quickly burned out, Fartcoin (
#Fartcoin ), which was launched on Solana in October 2024, still manages to remain resilient.
Whale Interest Increased the Price
Last week, aggressive buying by whales and a resurgence of investor interest caused Fartcoin to gain 26.41%. The token, which entered June 4 at $0.98, rose above $1 with strong support.
Blockchain analysis platform Lookonchain announced that three different whales bought a total of $9.5 million worth of Fartcoin in the $1.02-$1.04 range. On June 10, another whale exchanged 2 million USDC for Fartcoin. These large transactions increased confidence in the market.
Coinbase Listing Creates FOMO
The recent announcement that Fartcoin will be listed on Coinbase International Exchange has led to significant increases in both price and trading volume. This development may also bring institutional interest to the token.
Technical Indicators Are Strong
The Awesome Oscillator (AO) and Money Flow Index (MFI) indicators signaled an exit from the short-term bearish channel.
The RSI (Relative Strength Index) is in the mid-50s. This shows that the market is not yet "overbought" and buyers are still active.
Analyst Views: $1.5 or $10?
Crypto expert Anglio believes that Fartcoin can rise to $10. However, technical analyst Momin takes a more cautious approach. According to Momin:
“A correction is expected in June. However, if strong support levels hold, $1.5 could be a reasonable target by the end of the month.”
According to Momin’s analysis, the token’s long/short ratio falling below 1 indicates that some investors are opening short positions in anticipation of profit taking or correction.
Conclusion
While Fartcoin’s potential to reach $1.5 in the short term seems strong, it will take a sustained bull market, increasing adoption, and high volume demand to rise to $10. The interest from whales is reassuring for now, but cautious optimism may be the best strategy for investors.
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