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Fartcoin (FARTCOIN) has gone up by 9.4% in the past 24 hours and has once again climbed above the psychological $1 mark that is typically so relevant to meme coins.
Trading volumes have exploded by 64% in the past 24 hours and currently account for nearly a fifth of the token’s circulating supply.
Other Solana meme coins like Bonk (BONK) and dogwifhat (WIF) have booked similar gains during this period.
Overall, the combined market cap of meme coins in the Solana ecosystem has jumped by 5.6%. This has triggered a rally in the native asset of Raydium – the network’s top decentralized exchange.
Interest in meme coins had been waning in the past couple of weeks as the market took a breather after a strong rally that was exacerbated by a short squeeze.
Meanwhile, market sentiment has turned neutral as reflected by the Fear and Greed Index, whose value dropped from a local peak of 76 to 55 at the time of writing.
This cautious attitude was primarily caused by rising tensions between the United States and China on the trade front.
Today, the two countries will sit at the table to negotiate a path toward normalizing tariffs to prevent a global economic shock. Market participants are probably waiting for the outcome of these negotiations before their next big move.
Fartcoin Hits Key Resistance and Could Retest the $1 Level
Fartcoin bounced off $0.20 in early March and was propelled to $1.6 just two months later. This was quite a stunt for the token as it managed to swim against the current at a point when most cryptocurrencies were still facing strong losses.
Looking at the 4-hour chart, the price has tagged a key resistance from which the token declined sharply last week.
Thus far, the token shows signs of rejecting a move above this level but nothing concrete. Momentum indicators have not reached overbought yet levels in the 4-hour chart. Hence, traders may not be ready yet to cash out of the positions they took as the price rallied $0.86 to its current level.
Meanwhile, a key area of support sits at $1.07 to which the uptrend could drop to find further liquidity for its next leg up.
At this point, a rejection would confirm a bearish short-term outlook with a downside potential of around 8%.
Meanwhile, if the market finds enough buyers at that level, the next stop for Fartcoin could be the $1.4 area after a clean break of this resistance at $1.2.
In the meantime, as momentum for Solana meme coins remains strong, the best crypto presales of this ecosystem should deliver significant gains in 2025.
Solaxy (SOLX) has emerged as one of the best ICOs of the year after raising more than $45 million to launch its layer-2 scaling protocol for Solana.
Solaxy (SOLX) Enters Last 7 Days of Its Presale – Don’t Miss Out
Solaxy (SOLX) eliminates the congestion issues that have plagued Solana in the past like the delays and errors that users got back in January when TRUMP and MELANIA were launched.
This is achieved through a side chain that bundles transactions offline to alleviate the mainnet’s burden during peak usage periods.
The developing team has made significant progress in launching the solution and has already deployed a testnet and a block explorer that investors can check out in real time to see Solaxy’s performance in a controlled environment.
The demand for $SOLX will skyrocket once the solution is adopted by wallets and exchanges. At its discounted presale price of $0.00175, this token offers huge upside potential to early buyers.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap SOL or USDT for this token or use a bank card to invest.
