Fartcoin (FART), a Solana-based meme coin, trades at $1.27 and hints at strong upside potential to hit a new all-time high. A prominent crypto influencer, Rookie, supports the possibility of a breakout rally in Fartcoin to a record high. Will an additional push from spot listings on top CEX help Fartcoin reach $0.01277?
Fartcoin Surges Without Major CEX Support
As many popular meme coins rely heavily on top Centralized Exchanges (CEX) listings for a hype driven spot volume, Fartcoin defies the market norms. The Solana-based meme coin has achieved consistent top-five positions in perpetual contracts volume rankings on platforms like Bybit and Binance. Notably, the major exchanges do not offer spot trading.
In a recent tweet, Rookie, with over 500K followers, shares the rising sentiment of the community and targets a new all-time high this month in FARTCOIN/SOL. This could translate to a new high FARTCOIN/USDT perpetual contract if Solana holds stable.
Furthermore, the influencer shares the massive FART token spot trading volumes on Hyperliquid, a Decentralized Exchange, testing the same levels of BTC spot volumes. This showcases the massive underlying demand for this Solana-based meme coin, as most meme coins tend to falter when only listed on Perp markets. This is due to excessive bearish positions, but Fartcoin eyes a new all-time high as it holds strong.
In case major exchanges like Binance, OKX, Coinbase, or Robinhood approve spot Fartcoin listings, the influx of new retail demand will renew a bull run. This could potentially propel the meme coin to a new all-time high.
Fartcoin Price Analysis: A 71% Bull Run Likely
The Fartcoin price crashed 85% from $0.011049 to $0.001585 between January 19 to March 4. However, the sharp reversal in the meme coin bounced back almost 350% to challenge the 100% Fibonacci level at $0.008513.
The short-term consolidation in the rising Solana-based meme coin forms an ascending triangle pattern. A supply zone at $0.0080 acts as the upper ceiling, with the uptrend forming the ascending trendline. The 40% breakout target projects the distance between the trendline and the ceiling to the breakout point, eyeing $0.01143, a new all-time high. Based on the Fibonacci levels, the uptrend above the 100% level at $0.008513 will target the 1.618 level at $0.01273, a 71% upside potential.
Conversely, if the support trendline fails to hold FART token prices, a downfall could test the 50% Fibonacci level at $0.005094 and nullify bullish chances.
Conclusion
The rising community support, high perpetual contracts volume, and an active spot listing on HyperLiquid fuel the Fartcoin’s momentum. However, a key missing piece of the next bull run is the CEX spot listings. If Binance, Coinbase or any other top-tier CEX offer a place for the FART token in the spot market, the meme coin could climb to a new all-time high.
Frequently Asked Questions (FAQs)
Fartcoin is a meme coin built on the Solana blockchain, gaining popularity for its high trading volumes and strong community hype.
While highly speculative, the current price structure and growing momentum suggest bullish potential if support levels hold and major listings occur.
A spot listing on major CEXs like Binance, Coinbase, or OKX could trigger a surge in retail demand, fueling a breakout rally.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/heres-why-solana-meme-coin-fartcoin-price-will-hit-ath-soon/
✓ Share: