- FARTCOIN surged 100% in a week, becoming the top performer among the top 100 cryptocurrencies.
- FARTCOIN jumped from $0.5291 to $0.633, with a $625.85M market cap and $210M daily trading volume.
The cryptocurrency market kicked off the day on a strong note, with the global market cap climbing to $2.89 trillion. Bitcoin is inching closer to the $88,500 mark, and most major assets are following the upward trend. Among them, meme coin Fartcoin (FARTCOIN) has caught everyone’s attention, leading the gains with an impressive 20% surge.
Fartcoin started the day at $0.5291 and peaked at $0.633 before settling at $0.6313 at the time of writing. With a market cap of $625.85 million and a daily trading volume hitting $210 million, the token continues to rally. Over the past seven days, Fartcoin has skyrocketed 100%, making it the best-performing asset among the top 100 cryptocurrencies.
What’s Fueling the Fartcoin Rally?
The recent price jump appears to be driven by a combination of factors. The biggest catalyst is Crypto.com’s listing announcement, which boosted investor confidence. Additionally, increased social media hype, especially from influencers, helped Fartcoin break past its previous monthly low and approach early-February highs.
So far in March, Fartcoin has surged 200% from its low of $0.19. The growing hype around meme coins—especially after former U.S. President Donald Trump’s Truth Social post about the TRUMP token—has also played a role in Fartcoin’s momentum.
Technical Analysis: Bullish Trend, But Caution Advised
Fartcoin is currently trading within an ascending parallel channel, a bullish pattern that suggests strong buying pressure. If this uptrend continues, indicators suggest that the price could reach $0.75 or even $0.90 in the near future.
Zooming in, the Chaikin Money Flow (CMF) indicator sits at 0.11, signaling that buying pressure still outweighs selling pressure. Other indicators, such as the Relative Strength Index (RSI) and Directional Movement Index (DMI), also suggest sustained momentum, reinforcing the current trend. If buyers remain strong, the memecoin could regain momentum and push towards $0.95.
On the flip side, some indicators suggest caution. The MACD (Moving Average Convergence Divergence) on the 4-hour chart shows a potential slowdown in momentum, hinting at a short-term pullback. If selling pressure increases, Fartcoin might test lower support levels around $0.42.
With meme coin mania heating up, Fartcoin remains a key token to watch. While the overall trend is bullish any signs of a reversal could happen soon. If market sentiment stays positive, Fartcoin could continue its explosive rally. However, if momentum slows down, short-term corrections may be on the horizon.
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