The post FARTCOIN sees 17% hike as whales accumulate – How long will the rally last? appeared on BitcoinEthereumNews.com.

Three different whales acquired a notable amount of FARTCOIN from the market Despite the memecoin’s bullish market sentiment, major obstacles remain ahead FARTCOIN recorded one of its most significant rallies in the past 24 hours, ending up as the top gainer on CoinMarketCap following a 17.19% rally. This continues its bullish run of 105 percent over the past month. At the time of writing, the market’s condition revealed that a major rally could be on the way. However, there are some barriers the asset might face if it continues to trend higher. Whales bond over FARTCOIN FARTCOIN’s latest gains can be linked to the recent purchase made by three whales. According to Lookonchain, the cumulative purchase made by these three whales amounted to $5.6 million. Typically, this type of accumulation, if met with growing market demand, leads to a rally. That pattern can be clearly seen in FARTCOIN’s recent price action. Source: Solscan What this means is that it opens the door for more accumulation of the asset by spot traders in the market. Especially since they see the whales’ purchase as a green light to buy. Interestingly, an analysis of the weekly exchange netflows revealed that there has been growing demand for FARTCOIN among spot market traders. They have acquired $1.74 million worth of the asset during this period. Demand for the same has been building in this market segment for four consecutive weeks, supported by consistent buying activity. Other factors influencing FARTCOIN’s surge Derivative market traders have also played a role in FARTCOIN’s recent move. Their interest is now higher than ever. At press time, the Open Interest for FARTCOIN in the derivatives market had risen significantly. The number of new contracts added to the market increased by 22 percent, compared to the previous few days, bringing the…

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Filed under: News - @ April 23, 2025 5:23 am