Solana’s FARTCOIN Defies Market Trend Soars 40%, What Next?
Amid market uncertainty, newly launched Solana-based meme coin Fartcoin (FARTCOIN) is making waves with its impressive performance.
Fartcoin (FARTCOIN) Challenges Cryptocurrency Trends
Today, January 14, 2025, while major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP are struggling, FARTCOIN bucked the trend and rose 40% to reach the top of the cryptocurrency market .
Current Price Momentum
fart coins The price has surged higher after suffering a drop of over 57% and finding support at the $0.75 mark. FARTCOIN has surged significantly in the past 24 hours and is currently trading close to $1.06, attracting significant attention from traders and investors, resulting in a 145% surge in trading volume.
However, some investors believe fart coins As the next BONK or Dogwifhat (WIF) because it is built on the Solana blockchain.
Open interest (OI) rises
According to on-chain analytics firm CoinGlass, the increased interest not only increased trading volume, but also FARTCOIN’s open interest (OI). Data shows that the OI of the newly launched meme coin has surged by 44% in the past 24 hours, indicating that new open positions are increasing.
However, the sharp increase in price caused traders to close positions worth $2.11 million, of which $1.9 million came from short positions and only $0.3 million from long positions.
FARTCOIN Price Prediction
According to expert technical analysis, FARTCOIN has successfully found support at the $0.75 mark and broke above the trend line it has been facing since January 2025.
With the recent breakout, the Meme token is very likely to continue its upward momentum and rise another 45% to reach the $1.60 level in the future.
On the positive side, FARTCOIN’s relative strength index (RSI) is below overbought territory, indicating that the asset still has room to continue its upward momentum.
