Meme coins gained popularity with cryptos like Dogecoin, Shiba Inu, and similar animal-inspired names, but users are now shifting to unique and new meme-inspired cryptos. One such crypto is a Solana AI memecoin, Fartcoin, which has recently hit a new ATH after a rally of 40% today. Let us discuss the factors behind this Fartcoin price rally.
Why Fartcoin Price Surged 40% Today?
Fartcoin is one of the most popular Solana Meme coins because it is unique. Other than that, there is no distinctive feature or use case, but despite that, its price has just hit an ATH at $1.40 after a 40% rally in the last 24 hours. With that, it currently trades at $1.29 with a market capitalization of $1.29B. This impressive rally formed as the token’s trading volume surged 16% to $140.12M. Additionally, the Coingalss reports reveal that the Open Interest (OI) has surged 82%, currently $140M, driving the price up.
Since its launch in October, the Solana AI memecoin has had a bullish trajectory but has made major corrections after every peak. However, with the increased demand for AI cryptos, Fartcoin has also gotten attention. The popular AI agent Truth Terminal, behind Goatseus Maximus’s success, is also behind the success of the Fartcoin. It gave the idea, tokenomics, and all the relevant information for the Fartcoin, which went viral among crypto traders, and someone created a token from this information.
Eventually, the Truth Terminal connection and the demand for Solana AI memecoin led to this new ATH rally. Interestingly, Truth terminal holds at least $25M FARTCOIN, increasing demand. The investors also found humor in its name and began endorsing it on social media platforms, fueling the current Fartcoin price rally.
✜ @FartCoinOfSOL | $FARTCOIN | MC: $26.9M
✜ One of the top AI Memecoins created by @truth_terminal
✜ In the global growth of Altcoins, such assets will perform very well
✜ CA: 9BB6NFEcjBCtnNLFko2FqVQBq8HHM13kCyYcdQbgpump pic.twitter.com/L76SQgEECj
— ᴛʀᴀᴄᴇʀ (@DeFiTracer) November 2, 2024
Not to forget, various famous crypto exchanges like Kucoin, Bitget, and others have listed the token, raising user confidence and expectations.
Will Fartcoin Price Hit $2 Next?
Fartcoin’s value has increased 2579873% in the last three months, boosting investor sentiment. Although the token is in a slight consolidation after its recent ATH, it could hit $2 if the trends are right. The retracement to the demand zone is between 0.934 and $1.046.
An uptrend could form if it produced a higher high above $1.670 and a higher low above $0.0934. Eventually, it could reach a new high of $1.670 at the 1.618 Fibonacci extension level. In the most optimistic nature, it could hit $2.
Bottom Line
Fartcoin’s growth shows the growing demand for AI cryptos. Interestingly, these AI-based cryptos will become one of the most followed cryptocurrency trends in 2025. As the Solana AI memecoin has hit a new ATH, investors are enthusiastic about future Fartcoin price rallies. Investors can witness new ATH, with the production higher high above $1.670 and a higher low above $0.0934. Regardless, there are still concerns about its long-term performance. This is because it lacks useful features and is rising with only investor demand, which could get limited over time.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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