Amid market uncertainty, the newly launched Solana-based meme coin, Fartcoin (FARTCOIN), has been making waves with its spectacular efficiency.
Fartcoin (FARTCOIN) Defies the Crypto Trend
Right this moment, January 14, 2025, whereas main cryptocurrencies, together with Bitcoin (BTC), Ethereum (ETH), and XRP, are struggling, FARTCOIN has defied the market development, surging 40% and topping the crypto market.
Present Value Momentum
FARTCOIN has skilled an enormous worth surge after witnessing a decline of over 57% and discovering assist on the $0.75 mark. With a major surge prior to now 24 hours, FARTCOIN is at the moment buying and selling close to $1.06, attracting appreciable consideration from merchants and traders, leading to a 145% bounce in buying and selling quantity.
Nevertheless, some traders see FARTCOIN as the subsequent BONK or Dogwifhat (WIF) because it builds on the Solana blockchain.
Rising Open Curiosity (OI)
This rise in curiosity has not solely elevated buying and selling quantity but additionally boosted FARTCOIN’s open curiosity (OI), as reported by the on-chain analytics agency CoinGlass. Knowledge revealed that the newly launched meme coin’s OI has surged by 44% prior to now 24 hours, indicating a buildup of latest open positions.
Nevertheless, this vital worth rally has led to the liquidation of $2.11 million value of merchants’ open positions, with $1.90 million coming from brief sellers and solely $0.30 million from lengthy positions.
Fartcoin (FARTCOIN) Value Prediction
In line with knowledgeable technical evaluation, FARTCOIN has efficiently discovered assist on the $0.75 mark and has damaged out of a trendline it had been going through for the reason that starting of January 2025.
With this latest breakout, there’s a sturdy risk that the meme coin might proceed its upward momentum and acquire one other 45%, reaching the $1.60 degree sooner or later.
On the constructive aspect, FARTCOIN’s Relative Power Index (RSI) is beneath the overbought zone, indicating that the asset nonetheless has room to proceed its upward momentum.
