Christmas Rally Secured, What Next?
The post Christmas Rally Secured, What Next? appeared on BitcoinEthereumNews.com.
Christmas Day appears to be raining gains for cryptocurrencies, but most especially for a meme coin that has recently caught the attention of the broader market—Fartcoin (FARTCOIN). In the past 24 hours, the price of FARTCOIN has increased by 60%, outperforming every other meme coin in the top 100. As a result, the cryptocurrency’s market cap has regained and surpassed the $1 billion market cap again. But what comes after this? Fartcoin Sees Bullish Sentiment, Renewed Demand Yesterday, Fartcoin’s price was $0.74 after a recent correction. During the same period, however, BeInCrypto predicted, using several indicators, that the meme coin could soon climb to the $1 billion market cap again. Less than 24 hours later, FARTCOIN’s value rose to $1.20, and its market cap is now $1.20 billion. According to our findings, this significant bounce could be linked to improved sentiment around the token and rising demand. On December 22, the token’s Weighted Sentiment dipped into negative territory. Weighted Sentiment gauges market perception of a cryptocurrency. A positive reading reflects bullish comments, while a negative reading indicates bearish sentiment. Fartcoin Weighted Sentiment. Source: Santiment As shown above, the sentiment reading has bounced back into the positive region, indicating that most remarks about FARTCOIN are now optimistic. If this trend continues, the token’s value could climb higher and potentially reach a new all-time high in the short term. Furthermore, the Chaikin Money Flow (CMF) revealed that demand also soared due to the positive sentiment around the meme coin. The CMF measures the flow of money in or out of a cryptocurrency, helping to identify the level of accumulation (buying) and distribution (selling). When the CMF rises, it indicates a good level of buying pressure. Conversely, a decline in the indicator’s rating suggests selling pressure. Based on the daily chart, the CMF…
Filed under: News - @ December 25, 2024 7:15 am