With a price drop of 10%
Fartcoin was officially launched.
, a meme coin built on Solana with deep roots in the world of internet humor, on the platform. However, the listing was met with significant volatility and selling pressure, as the coin's price fell by more than 10% on its first trading day.
Deposits are now open. Trading for the pair began at 7 AM EST on June 18.
Market volatility marks the debut of Fartcoin.
Fartcoin entered the market at a trading price of around $1.24, briefly surpassing $1.30. However, it quickly retraced and fell sharply. Its current price is $1.12, marking a daily loss of 10.62%. This decline indicates early profit-taking or weak bullish momentum.
The coin's price shows strong resistance between $1.30 and $1.32, which acted as a reversal point. Another resistance area is at $1.24, indicating that initial support has turned into resistance after the drop.
Support levels are currently forming between $1.10 and $1.12. If the downward pressure continues, the next psychological support level at $1.00 may be tested.
Technical indicators suggest caution despite the high trading volume.
Despite the price drop, trading activity has been extremely high. Trading volume has surged to $373.2 million over 24 hours, an increase of 66%. This suggests that increased speculative interest accompanied the novelty of the coin and its listing on Binance.US.
The daily chart for the Fartcoin/USD price.
From a technical perspective, the MACD indicator shows slight bullish momentum, but it is not enough to confirm a trend reversal. The MACD line is just above the signal line, and the chart is barely positive.
At the same time, the Relative Strength Index stands at 47.31, indicating neutral market sentiment. The indicator does not signal overbought or oversold conditions, but rather reflects hesitation among traders.
Related: Fartcoin whale cashes out $4.7 million: What’s next after the big sell-off?
Despite its playful nature, Fartcoin's fundamentals remain uncertain. The project's rating of 48% indicates several potential concerns, including volatility and poor historical performance. However, with a market cap of $1.12 billion and nearly full supply trading, liquidity does not seem to be a concern at this time.
Year-end forecasts remain negative.
CoinCodex analysts predict a price range between $0.924 and $0.953 by December 2025.
Related: Fartcoin surge: Whale buybacks, record futures contracts, and Coinbase listing pave the way for growth.
This would represent an 18% decline from current levels. Investors could still see modest gains if the coin rises in the short term, especially if it regains resistance at $1.24.