With a growing demand from Fartcoin whales, the Solana-based memecoin is set for another meteoric rise. Following its listing on Coinbase trading platform, whale demand is poised for a significant surge...
Fartcoin, the meme coin based on Solana, is poised for another rapid rise. After being added to the Coinbase trading platform, the demand from whales for this cryptocurrency could lead to a dramatic increase in its price in the coming weeks.
According to on-chain data, the demand for Fartcoin has remained high in recent weeks. A whale recently withdrew 14,916 SOL tokens from the Binance exchange to purchase 1.68 million token, worth approximately $1.4 million.
With Fartcoin’s imminent arrival on Coinbase and the expected altcoin season in 2025, whales are likely to continue driving demand for this trending meme coin. Furthermore, regulatory clarity on cryptocurrencies in the United States has contributed to the overall increase in demand for altcoins.
After a spectacular rise in recent weeks, the price of the memecoin has encountered significant resistance around $1.5. However, according to crypto analyst RookieXBT, this meme coin, still far from DOGE or PEPE, with a market capitalization of $1.35 billion and an average daily trading volume of $376 million, is poised to compete with the giants.
The memecoin has moved back above its Ichimoku cloud on the daily chart. Sustaining above $1.24 should allow Fartcoin to target the resistance zone between $1.8 and $2.7 in the coming weeks.
Subsequently, a weekly close above $2.7 could trigger a new rally towards its all-time high in the coming weeks. With the announcement of listing on Coinbase and the upcoming altcoin season, investors expect to see Fartcoin push to new highs.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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