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Fartcoin (FARTCOIN) Price: 100% Rally Enters Overbought Territory as Whale Dumps Tokens
The price of Fartcoin has experienced an unprecedented surge, rallying a staggering 100% in the past week to reach $0.58, before being corrected by a whale dump of 3.5 million tokens worth $1.87 million at an average price of $0.53. This sudden and massive sell-off contributed to a 6.7% decline in the token’s value.
Despite this correction, Fartcoin is still trading within a mixed technical landscape. On one hand, the Moving Average Convergence Divergence (MACD) suggests that bullish momentum remains strong, with the 12 EMA serving as support. On the other hand, negative sentiment metrics and whale selling activity point to possible downside risk.
The recent price action has taken place within a broader context of recovery in the Solana meme coin ecosystem. Other tokens such as Bonk, Dogwifhat, and Popcat have also seen gains of 20-35% over the past week.
Source: https://blockonomi.com/fartcoin-fartcoin-price-100-rally-enters-overbought-territory-as-whale-dumps-tokens/
