Fartcoin’s Insane Growth Turns Early Backers Into Millionaires

Fartcoin has declined by 12.5% today, with the Solana-based meme coin dropping to $0.8254 as the crypto market slips by 3% in the past 24 hours.

Despite its losses, FARTCOIN’s recent momentum means it’s still up by 22% in the past week and by 183% in the past month, making it one of the best meme coins to buy at the moment.

Its growth has enabled it to jump up to 134th in the market’s rankings by capitalization, and in the process it has made millions in profits for some of its earlier buyers.

And while there’s debate about just how far it can continue growing, its technicals alone suggest that it may rebound very soon from its recent dives.

Fartcoin’s Insane Growth Turns Early Backers Into Millionaires

Fartcoin has been the fourth best-performing coin in the top-200 over the past 30 days (behind ai16z, Bitget Token and Hyperliquid), with its rise making big profits for certain early movers.

According to Lookonchain, one whale made a quick profit of around $2.5 million this month, after trading 12,160 SOL for 8.15 million FARTCOIN.

A whale is selling $CHILLGUY to buy $Fartcoin.#CHILLGUY #Fartcoin

The whale spent 2,025 $SOL to buy 5.73M $CHILLGUY and sold for 9,963 $SOL, making 7,938 $SOL($1.79M).

In the past 21 days, the whale has spent 12,160 $SOL($2.75M) to buy 8.15M $Fartcoin($5.28M currently), with… pic.twitter.com/UE0bevACCg

— Lookonchain (@lookonchain) December 13, 2024

This whale has since sold their holdings, which perhaps helps explain why FARTCOIN has plummeted by 36% since reaching an all-time high of $1.29 on December 20.

Some whales do still hold onto significant quantities of the meme coin, suggesting that there remains belief that the coin will rebound sooner or later.

Yet analysts are split on whether FARTCOIN has already had its moment in the Sun, with some claiming that it has begun a “silent but deadly decline.“

Others, however, are more bullish, expecting the coin to exceed its current record high in the first quarter of 2025.

#fartcoin pic.twitter.com/QBUu5jGrGK

— KNIGHT $INJ TO 100$ (@cryptoknight890) December 29, 2024

And looking at its chart today, its indicators suggest that a recovery could be coming soon.

Its relative strength index (purple) bottomed out last night after dropping to 30, rising to 50 earlier this morning.

Likewise, its 30-period moving average (orange) may be close to bottoming out in relation to the 200-period (blue).

Yet it is concerning that it has been trading within an increasingly lower channel over the past week or so, a sign that the naysayers may be correct in claiming that the token has already begun its decline.

It’s also disconcerting that its trading volume has subsided to about $80 million in the past few days, down from $350 million barely a week ago.

Based on this, FARTCOIN may struggle to return to $1 in the near future, with $0.85 perhaps the best it can manage for the New Year.

New Meme Tokens with Strong Fundamentals

Assuming that FARTCOIN may have already peaked, traders may therefore want to turn to next thing already.

Of course, identifying the next viral meme token is usually a very fraught and unpredictable business, yet a new project is aiming to reduce some of the risk.

It’s called Meme Index (MEMEX), and as its name suggests, its platform will operate decentralized indexes that will track various baskets of meme coins.

It launched its presale earlier this month, but has already gone on to raise $1.15 million from bullish investors.

🚨 Meme Index is live in Upcoming Tokens! 🚨@memecoin_index presents the first-ever diversified meme coin platform, powered by $MEMEX, giving unparalleled access to the $120 billion meme coin market.

Meme Index offers exclusive access to indexes that cater to every risk… pic.twitter.com/GsiBBuZOzX

— Best Wallet (@BestWalletHQ) December 27, 2024

Meme Index works by enabling holders of MEMEX to invest in one of four decentralized meme token indexes.

These indexes will track different kinds of meme coins with different risk profiles, with the Titan index tracking established tokens such as Dogecoin, Shiba Inu and Pepe.

There are also MidCap, Moonshot and Frenzy indexes, with the latter covering the most volatile tokens in the market.

Together, such indexes give investors the chance to spread their risk across multiple coins, something which in the longer term may help them make bigger profits.

Given that meme tokens have been one of the biggest stories of 2024, Meme Index could attract thousands of investors looking to get involved in the space without taking on too much risk.

As its native token, MEMEX will be open to staking and it will also confer governance rights, with holders able to vote on new indexes.

Investors interested in joining Meme Index’s presale can do so by going to its official website, where MEMEX is currently selling at $0.0147457.

This sale price will rise in just under a day and will continue to rise for the duration of the offering, so buyers should move quickly.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.