Solana-based meme token FARTCOIN has emerged as today’s top-performing crypto, surging 26% in the past 24 hours. The meme coin trades at $1.06 at press time, with daily trading volume soaring past $650 million.
On-chain data reveals strengthening buy-side pressure, suggesting the token’s rally could extend in the near term.
208 Million Reasons Whales Could Keep FARTCOIN’s Rally Alive
Beyond the boost from improving broader market sentiment over the past 24 hours, data from Nansen indicates that the activity of the largest holders has partly fueled FARTCOIN’s double-digit surge.
According to the on-chain data provider, whale wallets with FARTCOIN holdings valued above $1 million have increased their token supply by 2% in the last day.
This uptick in whale accumulation has strengthened the market’s bullish bias and could drive further gains if buying activity persists. As of this writing, this investor cohort controls 207.42 million FARTCOIN tokens.
Further, smart money — addresses that have historically demonstrated profitable or highly skilled trading behavior — have also increased their FARTCOIN holdings over the past day.
According to Nansen’s data, their supply has grown by 3% in the same period, and this group now holds 19 million FARTCOIN tokens, signaling heightened interest from seasoned market participants.
This uptick in demand from seasoned investors could drive deeper retail participation, as traders often take whale and smart money activity as a bullish signal.
If retail inflows into the FARTCOIN spot markets grow in response, it could add further momentum to the meme coin’s short-term upward rally.
FARTCOIN Price Setup Looks Ripe for a Breakout, but Risks Remain
On the daily chart, the setup of FARTCOIN’s Moving Average Convergence Divergence (MACD) indicator supports this bullish outlook. As of this writing, the token’s MACD line (blue) rests above the signal line (orange).
Also, its green histogram bars have grown in size over the past two trading sessions, signaling bullish momentum is climbing.
The MACD indicator identifies trends and momentum in its price movement. It helps traders spot potential buy or sell signals through crossovers between the MACD and signal lines.
As with FARTCOIN, when the MACD line rests above the signal line, it signals strengthening buying pressure and falling sell-side strength. If this persists, FARTCOIN’s price could break above $1.74.
On the other hand, if demand falls, the meme coin’s price could lose recent gains and drop to $0.74.
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