Fartcoin, a popular Solana meme coin, continues to surge as the crypto market rebounds and as the supply on exchanges falls.
Fartcoin Fartcoin
fartcoin
17.18%
Fartcoin crossed the important resistance level at $1 for the first time since January. It has soared by 460% from its lowest point this year and is moving closer to its all-time high.
Fartcoin has beaten other popular Solana meme coins like Dogwifhat dogwifhat
wif
15.56%
dogwifhat, Bonk Bonk
bonk
7.43%
Bonk, and Official Trump.
Nansen data shows that the volume of Fartcoin tokens on exchanges has continued falling this week. There are now 142.5 million tokens on centralized exchanges like Kraken, Gate, KuCoin, and Bitget, down from 153 million a week ago.
The total supply on exchanges has dropped by 1%, to 14.08%. It stood at 15.13% a week ago and is now one of the lowest figures among Solana meme coins. A lower percentage suggests that more investors are holding Fartcoin in private wallets rather than preparing to sell on exchanges.
For comparison, Bonkโs supply on exchanges is 21.2%, Dogwifhatโs stands at 54.76%, and Popcatโs is 28%.
My point of View:
While the prospect of Fartcoin surging 135% to reclaim its all-time high is intriguing, it remains highly speculative. Achieving such a rebound would depend on multiple variables, including overall market sentiment, investor confidence, and renewed community-driven momentum. Given the inherent volatility of meme-based cryptocurrencies, any projections should be approached with caution. Although a resurgence is not out of the question, it would require strong catalysts and sustained interest. Investors are advised to conduct thorough research and assess their risk appetite before making any commitments.