The post Fartcoin blasts past Bonk with $1.16B market cap – Now Solana’s #2 memecoin behind Trump token appeared on BitcoinEthereumNews.com.

Fartcoin witnessed a 126% rally in two weeks, and the demand for the memecoin was still strong. The MFI indicator signaled a bearish divergence, just as the price tested the $1.15 resistance level. Fartcoin [FARTCOIN] briefly climbed past the Bonk [BONK] memecoin in market capitalization in the early hours of the 23rd of April. FARTCOIN reached $1.16 billion, while BONK’s market cap was at just a few million below this mark. This state of affairs did not last long, and BONK regained the #2 ranking behind Official Trump [TRUMP] among Solana [SOL] memecoins. Yet, this attempted overthrow was a statement of bullish intent. Fartcoin is riding the bullish wave In the past two weeks, the total altcoin market cap has increased by 17.22%, reflecting increased bullishness in the market. This came alongside a Bitcoin [BTC] bounce beyond the $92k resistance level. During this time, FARTCOIN has rallied 126%, from $0.51 to $1.15 at press time. In doing so, it has broken multiple key resistance levels and was on the verge of flipping the $1.14 level to support as well. The $1.14 level marked the lower high the memecoin made toward the end of January during its downtrend earlier this year. Therefore, a breakout beyond this level was hugely bullish news. Source: FARTCOIN/USDT on TradingView The technical indicators showed bullish signs. The trading volume saw a slight drop-off over the past week, but the OBV advanced higher. This reflected a buyer dominance overall. However, a bearish divergence was seen with the Money Flow Index. The MFI made lower highs while the price made higher highs (white). At the same time, Fartcoin was testing a key resistance level as well. This divergence could be an early sign of a pullback. Source: Coinglass The liquidation heatmap showed that liquidation levels around the price…

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Filed under: News - @ April 24, 2025 12:29 am