Fartcoin (FART), a Solana-based meme coin, trades at $1.27 and hints at strong upside potential to hit a new all-time high. A prominent crypto influencer, Rookie, supports the possibility of a breakout rally in Fartcoin to a record high. Will an additional push from spot listings on top CEX help Fartcoin reach $0.01277?
Fartcoin Surges Without Major CEX Support
As many popular meme coins rely heavily on top Centralized Exchanges (CEX) listings for a hype driven spot volume, Fartcoin defies the market norms. The Solana-based meme coin has achieved consistent top-five positions in perpetual contracts volume rankings on platforms like Bybit and Binance. Notably, the major exchanges do not offer spot trading.
In a recent tweet, Rookie, with over 500K followers, shares the rising sentiment of the community and targets a new all-time high this month in FARTCOIN/SOL. This could translate to a new high FARTCOIN/USDT perpetual contract if Solana holds stable.
Furthermore, the influencer shares the massive FART token spot trading volumes on Hyperliquid, a Decentralized Exchange, testing the same levels of BTC spot volumes. This showcases the massive underlying demand for this Solana-based meme coin, as most meme coins tend to falter when only listed on Perp markets. This is due to excessive bearish positions, but Fartcoin eyes a new all-time high as it holds strong.
In case major exchanges like Binance, OKX, Coinbase, or Robinhood approve spot Fartcoin listings, the influx of new retail demand will renew a bull run. This could potentially propel the meme coin to a new all-time high.
Fartcoin Price Analysis: A 71% Bull Run Likely
The Fartcoin price crashed 85% from $0.011049 to $0.001585 between January 19 to March 4. However, the sharp reversal in the meme coin bounced back almost 350% to challenge the 100% Fibonacci level at $0.008513.
The short-term consolidation in the rising Solana-based meme coin forms an ascending triangle pattern. A supply zone at $0.0080 acts as the upper ceiling, with the uptrend forming the ascending trendline. The 40% breakout target projects the distance between the trendline and the ceiling to the breakout point, eyeing $0.01143, a new all-time high. Based on the Fibonacci levels, the uptrend above the 100% level at $0.008513 will target the 1.618 level at $0.01273, a 71% upside potential.
Fartcoin Price Chart
Conversely, if the support trendline fails to hold FART token prices, a downfall could test the 50% Fibonacci level at $0.005094 and nullify bullish chances.
Conclusion
The rising community support, high perpetual contracts volume, and an active spot listing on HyperLiquid fuel the Fartcoin’s momentum. However, a key missing piece of the next bull run is the CEX spot listings. If Binance, Coinbase or any other top-tier CEX offer a place for the FART token in the spot market, the meme coin could climb to a new all-time high.
The post Here’s Why Solana Meme Coin Fartcoin Price Will Hit ATH Soon appeared first on CoinGape.
