- FARTCOIN trades near $0.2688 after sharp drops, showing extreme price swings and heavy trading activity on Binance.
- Historical consolidation zones stabilized price temporarily, but steep drops of over 90% highlight its high-risk, speculative nature.
- Strong volume at current levels signals potential buying opportunities, especially for investors who believe in meme coin recovery.
FARTCOIN has experienced extreme price swings on Binance, signaling heightened volatility and trading activity. The asset traded at $0.2688 at the time of reporting, reflecting a sharp decline of 22.17%. Analyst Altcoin Sherpa noted steep selling pressure, with the token experiencing another -18% drop recently, though it has slightly bounced since.
These movements have occurred amid speculation about Wintermute’s exit from token holdings. Sherpa stated, “To be determined if the market is ‘tired’ of memes and if these will bounce back. Personally, I think they will.”
The token’s historical chart shows two significant consolidation periods. The first consolidation spanned 14 bars over 42 days, accumulating 42.41 billion tokens. The second and longer consolidation extended over 40 bars covering 120 days, with higher trading volume totaling 63.5 billion tokens.
These periods acted as critical price zones, stabilizing the token temporarily before dramatic downturns. Price action reveals a decline of approximately 92.48% during the initial drop, followed by another steep fall of 89.44%. These massive retraces underline the asset’s speculative nature and heightened market risk.
Volume and Price Analysis
The current volume profile concentrates heavily near the $0.2688 price mark, indicating strong trading activity at lower levels. Volume bars alternate between gray and cyan, representing fluctuating buying and selling pressure. The horizontal dotted line marks a crucial support level, where prices have shown tight consolidation.
The volume-weighted average price stands at roughly 804.64 million based on 200 bars, demonstrating a concentration of investor activity around this region. Additionally, Sherpa emphasized, “This is a great buying area if you believe this one has staying power.”
Market Sentiment and Outlook
Meme coins like FARTCOIN repeatedly face claims of decline, yet Sherpa explained, “Memes have been called ‘dead’ multiple times across the last several years and there always seems to be some demand for them to a degree.”
Hence, while returning to all-time highs may be unlikely, the token could still see multiple times gains from current levels. Market participants monitor consolidation points and support zones for potential accumulation opportunities.
