Key information
- Fartcoin has fallen 12.5 percent since December 30, 2024, but remains up 22 percent over the past week.
- A large investor made a $2.5 million profit this month trading Fartcoin, which may be contributing to its recent decline.
- Technical indicators suggest that a potential rebound is imminent, with the Relative Strength Index having reached 50 and the 30-period moving average about to bottom out against the 200-period moving average.
Several early investors have become millionaires thanks to the explosive growth of Fartcoin. However, recent market movements raise concerns about a potential decline. On December 30, 2024, Fartcoin saw a 12.5 percent decline, falling to $0.8254 as the broader crypto market fell 3 percent.
Despite these losses, Fartcoin remains up 22 percent over the past week and 183 percent over the past month. This performance propelled it to 134th place in the market capitalization ranking.
Investor activity
A large investor, also known in the crypto world as a “whale”, made a profit of $2.5 million this month by trading 12,160 SOL for 8.15 million FARTCOIN before selling its assets. This could explain the recent 36 percent plunge from its all-time high of $1.29 reached on December 20.
While some investors still hold substantial amounts of Fartcoin, analysts remain divided on its future trajectory. Some believe it has already peaked and entered a “quiet but deadly decline,” while others predict it will surpass its current record during the first quarter of 2025.
Indices techniques
Technical indicators suggest a potential rebound is imminent. The Relative Strength Index jumped to 50 after hitting a low of 30, indicating a change from oversold conditions. The 30-period moving average also appears poised to bottom out against the 200-period moving average.
However, concerns remain as Fartcoin trading volume has declined significantly, from $350 million just a week ago to $80 million in recent days. This decline suggests that Fartcoin may struggle to regain previous price levels, potentially reaching a high of $0.85 by the end of the year.
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