Fartcoin Price Dives Below $0.3 Amid Solana Meme Coin Sell-Off
Fartcoin has plummeted nearly 20% in 24 hours, reflecting a broader retreat from Solana-based meme coins. The token now trades at a 68% loss over the past year as speculative interest wanes. Trading volume surged 28% during the sell-off, representing 43% of circulating market cap - a clear indicator of mounting downward pressure.
Technical analysis suggests further downside ahead. crypto trader Popeye notes a decisive breakdown below $0.35, with the chart structure turning bearish. His projection calls for a test of $0.20, implying 28% additional downside from current levels. The $0.40 level now serves as critical resistance for any potential reversal.
Meme coins across the ecosystem face headwinds as traders rotate out of speculative assets. The Fartcoin downturn mirrors weakness in similar tokens, with market participants showing renewed preference for fundamental-driven projects over viral phenomena.
