FARTCOIN, a memecoin, experienced an 18% price jump in the past 24 hours, breaking out of a multi-month descending channel that had persisted since late July 2025. The token's market cap climbed to nearly $300 million, placing it among the top 200 cryptocurrencies. This surge was supported by increased trading activity, with Futures Turnover hitting $673 million across major exchanges like Bybit, Binance, and OKX.
Technical indicators showed the RSI above the neutral zone, confirming buyer momentum, but the price failed to surpass the $0.30 resistance level. Open Interest rose to $224 million, and Funding Rates turned positive, indicating growing trader optimism. However, liquidity clusters around $0.26 and $0.24, representing over $2 million in positions, pose a risk of pulling the price down due to natural market tendencies.
Notably, Unipcs (also known as 'Bonk Guy'), a prominent Solana trader, expressed confidence in FARTCOIN's potential, stating it could be a top performer once risk appetite returns. Despite the breakout, the token remains in bearish territory, trading below key moving averages like the 50 and 200 MAs, and the broader memecoin market showed weakness, with only a few tokens like Starknet [STRK] showing recovery signs.
