Whale Activity Sparks Sharp Decline in Fartcoin—Market Reeks of Panic Selling
Major holders dump holdings as memecoin volatility hits absurd new highs.
When whales move, retail holds its nose—today's Fartcoin sell-off proves crypto's 'free market' still smells like institutional manipulation. Another day, another proof that 'decentralized' just means 'easier to rug-pull.'
Fartcoin exchange balances and price | Source: Nansen
Fartcoin price technical analysis
The daily chart shows that Fartcoin bottomed at $0.2097 in March before surging nearly 700% to a high of $1.6520. During that rally, it formed an ascending channel defined by a series of higher highs and higher lows.
Fartcoin has now broken below the lower boundary of that channel, as well as the 50-day and 25-day moving averages. It has also dipped beneath the 61.8% Fibonacci retracement level. Momentum indicators like the Relative Strength Index (RSI) and Stochastic Oscillator are both pointing lower.
Given these signals, the coin will likely continue falling, with sellers potentially targeting the psychological support level at $0.50, a further 45% decline from current levels.
