- FARTCOIN’s 64% rise followed a 57% drop, sparking fresh speculation about its momentum
- Rising Futures Open Interest indicated renewed market confidence in FARTCOIN’s upward movement
Solanas FARTCOIN noted a 64% increase in the last 24 hours. This turnaround came after it had previously dropped 57% on the charts. This unexpected rally has sparked speculation about whether or not the altcoin can maintain its upward momentum.
As attention shifts to FARTCOIN’s performance, many are questioning what has driven this sudden surge, especially in the face of broader struggles within the Solana-based memecoin space.
State of Solana based memecoins
The last few weeks have been a volatile period for Solana based memecoins. FARTCOIN, in particular, has shown dramatic price action, rising over 7,900% before experiencing a sharp correction. In fact, its recent rapid rally came after a period of significant decline – a sign of increased speculative interest.
Source: TradingView
In comparison, other tokens such as BONK and PENGU have seen relatively modest gains of 18.39% and 16.83% respectively, signaling less aggressive upward momentum. On the contrary, the likes of WIF have struggled, with its decline of 38.20% reflecting the broader instability in the market.
December and January have so far been challenging months for the memecoin space. With tokens like PNUT delivering an impressive 58.50% gains, the overall landscape is one of inconsistent performance. Factors such as reduced liquidity, waning hype and investor caution likely contributed to these struggles.
