$3.65M FARTCOIN Whale Sale Sparks 20% Collapse – Is $2 Target Still Realistic?
Main Idea
A large sale of FARTCOIN by a whale investor caused a 20% price drop, raising concerns about its ability to reach a $2 target, but some traders remain bullish on its recovery potential.
Key Points
1. A whale sold 3 million FARTCOIN tokens worth $3.65 million, causing a 20% price collapse.
2. The whale initially accumulated 8.89 million FARTCOIN at an average price of $0.26, generating a 349% return.
3. FARTCOIN lost its top memecoin status on Solana, now ranking fourth behind BONK, PENGU, and TRUMP.
4. Despite the sell-off, market sentiment data shows a 77% buyer ratio, and some traders predict a rebound based on historical patterns.
5. Technical analysis indicates oversold conditions, with key support at $1.00 and resistance levels at $1.40 and $1.543.
Description
A major whale investor has triggered a devastating 20% price collapse in FARTCOIN after liquidating over 3 million tokens valued at $3.65 million, raising serious questions about the memecoin’s ability to achieve its $2 psychological target. Blockchain data from Solscan reveals that the whale operating under Solana address “24BLFj” initially accumulated 8.89 million FARTCOIN tokens at a cost basis of $2.31 million, averaging $0.26 per token between February 26 and March 21. Whale 24BLFj sold ano...
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