Like any meme coin, Fartcoin gained popularity with its fun name and fart-themed jokes, connecting and entertaining investors. This popularity led to heavy returns for holders, but after today’s 75% price rally, traders could anticipate three higher price targets. Let’s discuss Fartcoin’s price potential and the reasons behind that.
Open Interests and Trading Volume Leads the Fartcoin Price Rally
With the recent crypto market crash, the Fartcoin meme coin also declined to a weekly low of $0.68. Although the token hit a new ATH just days before, the increased volatility and seller dominance crashed it on the charts. Still, it became one of the earliest and biggest recoveries of the market, rallying 75% on the charts since the crash. This happened as investor interest peaked for the crypto token, fueling a 185% surge in the trading volume, currently at $206.85M.
Additionally, Coinglass’s derivative market data reveals a 60% increase in the Open interest in the token, pushing it to $156.06M. This represents the investor’s heavy interest and confidence in the token, fueling the Fartcoin price rally.
If the trend continues, the token could reach higher heights as the momentum builds up with strong buyer demand. Some analysts even call it the next Dogecoin and PEPE, with high returns, further price rallies, and potential targets.
Fartcoin To Hit These 3 Targets Next
Since its launch in October 2024, the Fartcoin price has surged 218380%. Many crypto investors benefited from this growth. One crypto trader made $18M, showcasing Fartcoin’s constant rallies. With many similar stories and continuous development, investors are eyeing this crypto token, which explains the high trading volume and open interest. However, despite the price rally, it is now range-bound between the recent low and high. As a result, the 50% Fibonacci retracement level at $0.936 is the new critical point. A bounce from this crucial point favors a further price rally, which the investor’s positive sentiments, interest, and strong bullish momentum will support.
If the Fartcoin token maintains the bull’s dominance, it will likely hit three prime targets at $1.749, $2,476, and $3.202 based on the Fibonacci extension level. More precisely, if it reaches the 161.8% Fibonacci extension level, it may hit the first target at $1.749, which is an upside target, offering an early profit-taking opportunity. A breakout above this will push the token to 261.8% Fibonacci extension level, reaching the price target of $2.476. Lastly, the most optimistic rally could propel the meme coin to a 361.8% Fibonacci extension level and the Fartcoin price to hit $3.202.
Bottom Line
The Fartcoin token is among the most trending meme coins due to its constant upward movement. More importantly, it is among the market’s top performers at present after its 75% rally past the market crash. With its high demand, bullish momentum, and favorable market trend, it could move higher on the charts. Although there is significant risk and trend reversal with investor sentiments and macroeconomic events, a surge above the critical $0.936 point could confirm a further upward movement, pushing the Fartcoin price as high as $3.302.
The post 3 Targets For Fartcoin as Price Rallies 75% After Market Crash appeared first on CoinGape.
