WTF, the Plunge of Fartcoin's Price!
Whales emit strong odors on Fartcoin, causing a significant decline in value.
The infamous crypto meme coin, Fartcoin, took a nosedive on June 5, 2025, dropping below $1, a level not seen since April 22. This crash, part of a broader sell-off in Solana-based meme coins, saw the combined market cap dwindle from a staggering $15 billion in May to a mere $10 billion as of today.
Fartcoin's downward spiral, sliding to $0.9300, has left many holders gasping for air, with the coin now 45% below its May zenith. This crypto farter has trailed its fellow Solana comrades, Bonk dropping by a hefty 20% in the last seven days, and dogwifhat, too, plummeting a matching 20%.
On the flipside, research by Nansen shows that smart money investors have offloaded a hefty 9.74 million Fartcoin tokens, dipping from a peak of 34.16 million last month. Defining these wallets as those with a proven record of profitable trades, these wallets now hold a mere 24.4 million Fartcoin tokens.
Meanwhile, the whales have also cashed in on their gains, reducing their holdings from nearly 360 million tokens last month to a measly 283 million today. Exchanges have seen an influx of these tokens, with balances jumping to 194.54 million, the highest level since March. This surge in exchange inflows usually signals that sellers are readying themselves to unload, often seeking profits.
Technical Perspective
Peering at the daily chart, we see Fartcoin plummeting from its March bottom of $0.2097 to a high of $1.6520 in a 690% surge. During the ascent, it formed an ascending channel, defined by a series of higher highs and higher lows. However, it has now breached the lower boundary of this channel and taken a dive beneath the 50-day and 25-day moving averages. The coin has even dipped beneath the 61.8% Fibonacci retracement level. Momentum indicators like the Relative Strength Index (RSI) and Stochastic Oscillator are both moving southward, hinting at continued selling pressure.
Looking ahead, the bearish signals could steer Fartcoin towards the psychological support level at $0.50, a further drop of 45% from its current standing.
- Despite the recent plunge of Fartcoin's price, some investors are still seen cashing out their Tron-based tokens, with a reduction in whale holdings from nearly 360 million to a measly 283 million.
- The sell-off in Solana-based meme coins, including Fartcoin, has caused the combined market cap to dwindle from $15 billion in May to $10 billion as of June 5, 2025.
- The downturn of Fartcoin, now trading at $0.9300, has led to a significant offload of 9.74 million tokens by wallets with a proven record of profitable trades, as per Nansen's research.
- As Fartcoin slides below $1, some investors may find solace in the Defi world, diversifying their holdings with Binance Coin (BNB), considered a safer bet, or exploring new DeX (Decentralized Exchanges) platforms on the Solana blockchain.
- Crypto trading platforms like Coinbase, serving as gateways to the world of finance and technology, are witnessing increased activity as traders seek new opportunities amidst the tumultuous crypto market.
- As momentum indicators like the RSI and Stochastic Oscillator continue to move southward, predictions suggest Fartcoin could slide further and retest the psychological support level at $0.50, a 45% drop from its current price.
