FARTCOIN, a Solana-based meme coin, has surged over 20% in the last 24 hours, currently trading around $1.24 to $1.25. This rally is driven by strong buying demand, evidenced by a 78% rise in trading volume to $252.3 million, and increased long positions in the futures market pushing open interest to $725.5 million.
The recent announcement by Coinbase adding FARTCOIN to its listing roadmap on June 5 has significantly contributed to investor enthusiasm. Historically, Coinbase listings tend to provide short-term price boosts. Market indicators support this bullish momentum: the Moving Average Convergence Divergence (MACD) shows a golden cross—a signal of upward trend continuation—and the Relative Strength Index (RSI) remains above the neutral 50 line at 54.56, indicating growing demand.
Price analysis suggests FARTCOIN could challenge the key resistance level near $1.29 and potentially aim for $1.46 if buying pressure sustains. However, some risk remains as traders who are now profitable might engage in profit-taking, which could lead to price corrections toward $1.16 or even down to $0.94 if the support levels fail.
Overall, the memecoin’s recent breakout from a descending channel and the sustained positive funding rate for the past week underscore strong bullish sentiment among investors. The crypto market recovery, with Bitcoin rallying over $110,000, has also spurred demand for memecoins, further fueling FARTCOIN’s price action.