Will Fartcoin Reach 10 USD? Fartcoin Surpasses Bonk After Exceeding 1 Billion USD

The meme coin has skyrocketed in the past 24 hours, and the momentum of Fartcoin (FARTCOIN) is still not stopping as it now aims to overthrow the rival coin Bonk (BONK) based in Solana. In the past 24 hours, FARTCOIN has increased by 10.3% and is currently at $1.17 while the market capitalization has risen to $1.17 billion. At one point during yesterday's trading session, its market value surpassed BONK but only for a short time as BONK quickly surged.

BONK has once again surpassed FARTCOIN as its price skyrocketed by 22.9%, pushing its market capitalization to $1.27 billion. The trading volume for the top Solana meme coin surged by 242% to $375 million, accounting for nearly 30% of the circulating supply of the token. This coin has made a spectacular comeback in the past few weeks, and despite the market downturn, it has seen a monthly increase of 110%, while other top assets in this category like Dogecoin (DOGE) and Floki (FLOKI) have recorded losses during the same period. When closely examining the chart of FARTCOIN, we can see that the price increase has entered an area where traders should be cautious as the upward trend may be weakening. Late buyers of FARTCOIN can take advantage of the pullback. Hourly price fluctuations indicate that a rising wedge pattern has formed over the past few days due to the strong increase in token prices.

FARTCOIN seems to be consolidating between $1.12 and $1.20 at the moment. However, the Relative Strength Index (RSI) has moved below the 14-day Simple Moving Average (SMA) multiple times, indicating that the trend is weakening. Similarly, the MACD chart has entered the negative zone and continues to have higher negative readings. If FARTCOIN falls below the 21-day EMA line, this could signal a short-term pullback as initial investors look to take profits. However, that does not exclude the possibility that the price will rise to 2 dollars — or even 10 dollars — in the near future, especially as this token becomes increasingly popular and is strongly supported by the community.