Fartcoin (FARTCOIN), a Solana-based meme coin, has hit a $1 billion market capitalization. This milestone follows a 100% price surge over the past week and an 18.30% increase in the last 24 hours. With its price now at $1, the big question is: can it maintain this momentum, or is a correction inevitable?
What Drove Fartcoin’s Rise?
Key indicators show that Fartcoin’s rally was fueled by a surge in trading volume and social dominance.
Rising Trading Volume
Trading volume reached an all-time high of $199.59 million, reflecting significant liquidity inflows. When volume rises alongside price, it signals strong bullish momentum.
Growing Social Dominance
Fartcoin’s social dominance climbed to 1.01%, indicating increased interest in the coin. This metric measures how often a cryptocurrency is discussed compared to others in the top 100. Greater market attention often leads to higher demand and further price increases.
Fartcoin Price Prediction: Will It Hit $2?
Recent on-chain analysis suggests that Fartcoin could continue its upward trajectory. Between late November and early December, the coin experienced a sharp 52.57% drop due to selling pressure. However, the Bull Bear Power (BBP) indicator has since turned positive, showing that buyers now outweigh sellers.
Key Factors to Watch
- No Major Resistance: Fartcoin’s chart shows no significant barriers, paving the way for a potential climb to $2.
- Profit-Taking Risks: If investors start selling to secure profits, the price could drop to $0.41 instead.
Can Fartcoin Sustain the Momentum?
Fartcoin’s future depends on its ability to maintain high trading volume and social interest. While the current momentum suggests further growth, potential corrections should not be ignored. If bullish trends persist, Fartcoin could reach a $2 billion market cap soon.
