Fartcoin Jumps 17%: Can it Last Longer?

Jakarta, Pintu News – Fartcoin, a cryptocurrency that belongs to the memecoin category, recently experienced a significant increase of 17%. The question that arises is whether this rise can be sustained, and if so, for how long? Here is an in-depth analysis of the market dynamics affecting Fartcoin at the moment.

Increased Fund Allocation to Memecoin

Recent data from Nansen shows that more and more users are allocating their funds to Fartcoin. In the past 24 hours, Fartcoin purchases totaled $2.95 million, driven by new user arrivals and spot trading activity.

This significant increase in the number of new users and purchase activity has pushed the value of Fartcoin up. However, the derivatives market has also played a role in this movement and may influence future price drops. Derivatives traders, who are mostly long, have been betting on the continuation of this rally.

Also Read: XRP Surges to $2.32: Can it Survive Crypto Whale Selling Pressure?

Impact of Derivatives Market on Fartcoin Movement

In the derivatives market, the Funding Rate which indicates which group in the market pays a higher premium, is currently at 0.0453%. This suggests that the bulls are dominating. Meanwhile, Open Interest (OI), which shows the number of unsettled derivatives contracts, has risen 11.23% to $617.94 million, dominated by traders going long.

Although the OI-weighted Funding Rate has decreased from 0.1185% to 0.0067%, this decrease is still within the positive range, indicating that the derivatives market is still bullish on Fartcoin. However, the declining buying volume could potentially affect future market movements.

Impressive Memecoin Performance

In the past 30 days, the performance of memecoin in the market has been very impressive. Purchase volume has increased 16.15% to $6.988 billion, accompanied by an 11.96% rise in market capitalization to $58 billion. The corresponding rise in market capitalization and volume suggests that interest in memecoins, particularly Fartcoin, continues to grow.

Fartcoin is currently the main focus among other memecoin tokens, attracting the attention of investors and speculators in the crypto market. This growth suggests further potential for a rally, although there are some factors to watch out for such as the dynamics of the derivatives market.

Conclusion: Fartcoin Outlook

Although Fartcoin has shown strong performance recently, there is still some uncertainty regarding how long this rally can last. Factors such as derivatives market activity and declining trading volumes need to be monitored to predict the next price movement. Investors and traders should remain vigilant and do their own research before making investment decisions.

Also Read: Is Bitcoin Miner’s Sales Hold a Good Sign?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Fartcoin after a 17% surge: Can it sustain the rally and if so, for how long?. Accessed on April 29, 2025
• Featured Image: CCN