Hold onto your hats, folks, because Fartcoin is making waves in the crypto world! While the Federal Reserve's recent 25-basis point rate cut sent shockwaves through the market, causing big names like Bitcoin and Ethereum to tumble, Fartcoin was busy defying gravity and hitting new highs.
Picture this: On December 18, Fartcoin, a quirky meme coin riding on the Solana blockchain, shot to the moon, reaching a new all-time high and briefly pushing its market cap over the magical $1 billion mark. While Bitcoin and Ethereum took a hit, losing 4% and 5% respectively, and XRP and Dogecoin fared even worse, Fartcoin was having none of that negativity.
Instead, it soared by 21%, peaking at $1.02 before taking a little breather. But don't let that fool you—Fartcoin was back in action, cruising at $0.9889 with a stellar 17.6% gain over 24 hours, just a smidge under its all-time high. Its market cap was hanging around the $955 million mark, making it a top contender among the biggest crypto players.
And if you think that's impressive, wait until you hear about its longer-term performance. Fartcoin has been on a roll, with a jaw-dropping 446.1% increase over the past two weeks and a 220.8% leap in the last month. Even in the past seven days, it outshined the broader market, which saw a 2.7% dip, by skyrocketing 85%.
This cheekily named crypto is following a bullish trend, according to analysts, who see it as part of a five-wave impulse pattern. The recent peak marked the end of Wave 3, with predictions of a slight pullback before resuming its upward trajectory in Wave 5. But here's the catch—if it dips below $0.58, that might mean trouble for the bullish outlook.
With its Relative Strength Index suggesting it's in overbought territory, a little cooldown might be on the horizon before the next big lift-off. So, keep your eyes peeled and your crypto wallets ready, because Fartcoin might just surprise everyone again!
