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Highlights
- The buzz around Solana meme coin Fartcoin faded as its price traded 83% below ATH.
- Nevertheless, recent accumulations by smart whales indicated that a recovery is possible.
- Traders and investors anticipate over next price targets: $1.4 or $0.35.
Fartcoin price remains much-eyed by crypto market traders and investors globally as the meme coin has fallen from grace, down nearly 83% from its peak and now at the $0.46 level. Nevertheless, recent market data flagged rising whale accumulations for the Solana meme coin, conversely generating sentiments of a price recovery ahead.
Despite the current market volatility, two smart whales collectively bagged nearly 6 million tokens. As a result, market participants speculate whether a recovery to $1.4 or a crash to $0.35 awaits amid broader trends.
Fartcoin Price Bullish Amid Smart Whale Accumulations?
The latest whale data suggests that a potential recovery awaits the meme coin despite the broader turbulent trend. According to the on-chain transaction tracker’ ai_9684xtpa’ on X, two smart money addresses bagged massive amounts of the Solana meme token amid its slump.
Per the data, smart trader ‘Ansem’ added 818,000 tokens at an average price of $0.4142. Further, the new address ’59aZn..’ bagged 5 million tokens from Kraken at a withdrawal price of $0.4574. Although Fartcoin price is currently down 83% from its peak, these accumulations sparked optimism surrounding the coin’s future movements, signaling a ‘buy-the-dip’ opportunity.
Crypto Enthusiast Rationalizes Price Dip
Meanwhile, crypto market enthusiast ElonMoney recently took to X, rationalizing the current dip in Fartcoin. According to the market enthusiast, a broader slumping action can currently be witnessed across the altcoin sector, with AI tokens, ai16z, & Fartcoin following the trend.
In light of this broader trend, the Solana meme coin also dropped from a $2.6 billion market cap despite having strong sentiment, high mindshare, and significant inflows. The market expert adds, “This isn’t about the token – it’s about the market.”
Fartcoin Price Target: $1.4 Or $0.35 Ahead?
At the time of reporting, FARTCOIN price witnessed a 10.5% drop in value over the past day and is currently trading at $0.4662. The coin’s intraday low and high were $0.4126 and $0.5166, respectively. Crypto traders and investors remain bullish in the wake of the abovementioned smart money accumulations, expecting a recovery ahead.
However, the current crypto market trend has presented altcoins and meme coins with substantial pressure. In light of this trend, market analyst Vegeta further took to X, spotlighting that the range from $0.39 to $0.69 remains vital to confirm a bullish or bearish run ahead.
A sustained break above $0.69 could pave the way for further gains, and thus a $1 price target, given the asset sees renewed market interest as seen with the abovementioned buying by smart whales. Conversely, a slip below $0.39 may bring further downside pressure to the asset.
A recent Fartcoin price analysis by CoinGape revealed that the token witnessed a drop amid market interest shifting toward the TRUMP token. As per the analysis, the meme coin significantly lost its market cap amid TRUMP’s launch as liquidity from the broader Solana meme coin sector shifted to the new token.
Nevertheless, with smart whales buying in action, a market sentiment shift could be witnessed ahead. The analysis further revealed that a recovery above $1.00 could signal renewed confidence, thus paving the way for $1.4, given buyers sustain the movement.
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