Fartcoin has simply flipped Bonk to become the second-largest Solana memecoin by market cap, following a 15% rally that pushed its market cap above the $1 billion mark.
Fartcoin (FARTCOIN) has rallied over 15% prior to now 24 hours, smashing via the $1 psychological resistance to commerce at $1.06 at press time. With this rally, Fartcoin’s market cap has surged previous $1 billion, overtaking Bonk (BONK), which presently sits at round $980 million.
FARTCOIN breakout comes as no shock as its worth motion has been on fireplace not too long ago because it broke out of the $0.40 – $0.55 vary the place it has been consolidating from March 29 to April 9. The memecoin staged a robust breakout on April 9, marked by a spike in quantity that drove the worth to an intraday excessive of $0.78. The momentum continued, with the worth hitting $0.97 on April 11 earlier than pulling again barely into a short consolidation part.
The value motion quickly resumed its uptrend, breaking previous earlier highs and pushing above the $1 mark. The pattern is clearly bullish as FARTCOIN presently trades effectively above each 20-day EMA and 50-day SMA. If this momentum continues, the subsequent rapid worth goal is at round $1.20–$1.25. Nevertheless, the RSI is nearing 70, which can point out an upcoming pullback.
In the meantime, Bonk has slipped barely prior to now 24 hours, persevering with to vary between about $0.0000095 and $0.0000138, with momentum wanting comparatively subdued in contrast to Fartcoin’s explosive breakout. The transferring averages are aligning bullishly, and worth is consolidating close to the top quality, which is usually a pre-breakout setup if quantity kicks in. Nevertheless, latest quantity is way decrease in contrast to March spikes, suggesting this breakout try remains to be missing conviction — a possible signal of continued vary habits or a sluggish grind up.
A clear each day shut above this vary with follow-through and rising quantity would verify a breakout, with the subsequent rapid worth goal at round $0.000015, the place the worth was rejected twice — in early and late March.
