FARTCOIN (Fartcoin) rose 12.48% in 24 hours

Gate News Bot news, on December 2, according to CoinMarketCap data, FARTCOIN is currently priced at 0.32 USD, rising 12.48% in the last 24 hours, with a high of 0.37 USD and a low of 0.26 USD. The 24-hour volume reached 267 million USD. The current market capitalization is approximately 324 million USD, an increase of 35.9 million USD compared to yesterday.

Fartcoin is a cryptocurrency project aimed at entertainment, with the slogan “Disrupting the cryptocurrency space, one fart at a time.” The project emphasizes the idea of “no conspiracy, free farting.” The FARTCOIN contract address is 9BB6NFEcjBCtnNLFko2FqVQBq8HHM13kCyYcdQbgpump. This token is currently tradable on platforms like CoinMarketCap, CoinGecko, and Axiom. The project team clearly states that FARTCOIN is a meme coin with no intrinsic value or expected financial return, purely for entertainment purposes.

Important news about FARTCOIN recently:

1️⃣ Whales significantly increased their holdings, and the proportion of positions has risen markedly In the past three months, the price of FARTCOIN has dropped from 1 dollar to below 0.3 dollars, but whales have increased their holdings against the trend. The total amount held by the top 100 FARTCOIN wallets has reached 689.62 million coins, accounting for about 69% of the total supply, which is an increase of over 55% compared to 90 days ago. Since late August, whales have increased their holdings by more than 230 million coins, demonstrating a typical “smart money” strategy.

2️⃣ Trading activity is unusually active, and liquidity has significantly improved In November, the trading activity of FARTCOIN significantly increased, with daily token transfer volume exceeding 238,000 transactions and a total amount of over $92 million. The DEX volume also rose sharply, especially in the last week of the month when buying and selling became more active, indicating that liquidity at lower levels has recovered and real buying demand is accumulating.

3️⃣ The overall Solana ecosystem is improving, driving the rise of FARTCOIN SOL ETF has seen continuous capital inflow for 21 days. When SOL holders seek additional returns, funds often flow into meme coins with higher liquidity within the ecosystem. FARTCOIN, as one of the most liquid meme coins in the Solana ecosystem, has become a major beneficiary.

From a technical perspective, FARTCOIN has recently broken through the descending wedge since July, and the trend is expected to reverse. However, the top wallets holding a large supply remain a potential risk. If the whales decide to take profits, the price may face strong downward pressure.

This message is not intended as investment advice; investors should be aware of the risks of market fluctuations.