Solana Meme Coin Fartcoin Price Is Up 500% in 11 Days, What’s Next?

Fartcoin, a popular Solana-based token, is up 500% in just 11 days and shows no signs of stopping. Despite the recent crash in Bitcoin price below $100,000 that caused altcoins to drop double-digits, FARTCOIN continues to trend higher. Let’s explore what’s next for this token.

Fartcoin Price Ready To Shoot higher?

Despite being a top meme coin, Fartcoin has achieved a market cap of $1 billion as a result of its popularity. Due to this factor, its value has climbed a whopping 528% in just 11 days, starting December 7.

Even as it trades around $1, it shows no signs of stopping with price producing higher highs and higher lows. Although Bitcoin’s December 18 crash caused many altcoins to break key support levels, FARTCOIN has bounced 57% since Wednesday’s bottom while the crypto market struggles with recovery.

Fartcoin Technical Analysis: What’s Next?

Fartcoin price consolidated for four days, starting December 13. The Fed-induced market crash on December 18, produced a local bottom at $0.703 and has since shot up 57% to set up a temporary top at $1.109, a new ATH.

Using Trend-based Fibonacci extension level the next target for Fartcoin price is 161.8% Fib level at $1.253. Roughly 16% away from the current price. However, the uptrend might happen after a minor pullback to the $0.916 support level. This level was the range high of the aforementioned consolidation and is likely to serve as a good place for sidelined buyers to step in. 

A bounce off $0.916 could send Fartcoin price up by 16% to $1.253. The next key hurdle is Fib 261.8% at $1.595, roughly 74% from $0.916.

On the other hand, if Fartcoin price fails to hold above the $0.916 support floor, it could collapse nearly 30% to the next critical foothold at $0.659.  A good place to accumulate, but a breakdown of this level could trigger a 42% crash to the next key imbalance zone, extending from $0.378 to $0.336.

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Akash Girimath

Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn

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.