Fartcoin Defies Bitcoin, Ethereum Retreat With A 6% Rally Sunday Night — What's Going On?
Fartcoin (FARTCOIN) was trading higher Sunday night, bucking the decline in the broader cryptocurrency market.
What happened: The Solana (CRYPTO: SOL)-based memecoin jumped over 6% in the last 24 hours, with trading volume spiking 20% to $267 million.
The rally propelled FARTCOIN to become one of the market’s top gainers and the most successful memecoin in the last 24 hours.
The spike defied the broader dip, with heavyweights like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) falling 1.24% and 1.22%, respectively, on escalating geopolitical tensions and rising oil prices.
Interestingly, FARTCOIN also outperformed in April when other currencies were rocked by President Donald Trump’s sweeping tariff measures. The coin reached a high of $1.60 in May but has plummeted over 40% since then.
The key Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset’s price, flashed a “Sell” signal for FARTCOIN, according to TradingView. However, the Stochastic RSI, which measures the level of the RSI relative to its high-low range over a period, signaled a “Buy.”
Price Action: At the time of writing, FARTCOIN was exchanging hands at $0.9355, up 6.19% in the last 24 hours, according to data from Benzinga Pro.
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Posted-In: Fartcoin memecoinCryptocurrency Markets
