Will Fartcoin Hit $10? Fartcoin Overtakes Bonk After Blowing Past $1 Billion

Meme coins have exploded in the past 24 hours and the Fartcoin (FARTCOIN) rally has not stopped as it now eyes to flip its Solana-based peer Bonk (BONK).

In the past 24 hours, FARTCOIN has jumped by 10.3% and currently sit at $1.17 while its market cap has risen to $1.17 billion.

At some point during yesterday’s session, its market value surpassed BONK’s but only for a brief moment as the latter quickly jumped.

Bonk has now outpaced FARTCOIN once again as its price has exploded by 22.9% to propel its market cap to $1.27 billion. Trading volumes for the top Solana meme coin have surged by 242% to $375 million, accounting for nearly 30% of the token’s circulating supply.

The token has made a dramatic comeback in the past few weeks and has defied the market’s downturn with monthly gains of 110% while other top assets in this category like Dogecoin (DOGE) and Floki (FLOKI) booked losses during this same period.

A closer look at FARTCOIN’s chart shows that the rally has entered an area where traders should be cautious as the uptrend could be weakening.

Late FARTCOIN Buyers Could Take Advantage of a Pullback

The hourly price action shows that a rising wedge has formed in the past couple of days as a result of the token’s sharp rise.

FARTCOIN seems to be consolidating between $1.12 and $1.20 for the time being. However, the Relative Strength Index (RSI) has moved below its 14-day simple moving average (SMA) multiple times already, meaning that the trend is weakening.

Similarly, the MACD’s histogram has entered negative territory and it has been posting increasingly higher negative readings.

If FARTCOIN slips below the 21-day EMA, it could signal a short-term pullback as early investors look to lock in profits.

However, that doesn’t rule out a surge to $2 — or even $10 — in the near future, especially with the token’s rising popularity and strong community momentum.

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