$FARTCOIN tumbled below $1 like a rock—yet one investor just scooped up $3M worth, betting it’s a springboard to $3.
The Solana memecoin, now oversold after 40 days above $1, has traders locked in a tug-of-war. Is this the final bargain before liftoff, or the calm before another drop?
Oversold $FARTCOIN Sinks Below Key Support—But Bulls Say ‘Biggest Entry of 2025’
For many, the dip is seen as a fresh opportunity to scoop up the Solana-based memecoin below $1, especially after missing the explosive 400% rally that began when $FARTCOIN bottomed out at $0.1998 on March 10.
One whale appears to have seized the moment, spending $3 million in USDC to acquire 3.24 million $FARTCOIN at an average price of $0.925, later transferring the entire stash to another wallet.
A $FARTCOIN supporter added fuel to the sentiment, stating, “Fartcoin is generous enough to give you one more entry. Take a chance.”
Long-time bull MacroCRG chimed in by sharing a chart of interest rates and noting that Fartcoin reached a $2.7 billion market cap while rates were at 5%.
“Imagine how hard it’ll run when rates are significantly lower,” he suggested.
This reflects broader trader sentiment. Many still expect $FARTCOIN to reach $3 before the end of the year.
BONK GUY Reveals $4.4M Drawdown, Says $FARTCOIN is Not Done Yet
Meanwhile, well-known Solana memecoin trader “BONK GUY” disclosed a massive $4.49 million drawdown on his $FARTCOIN long positions, which had peaked at over $7 million two months ago.
He acknowledged the emotional toll of holding through extreme memecoin volatility but stated that he fully expects to revisit the tweet “for clout” in the future once $FARTCOIN makes a new all-time highs.
This unwavering belief illustrates how determined bulls are to defend the sub-$1 support zone. According to data from CoinGlass, current market dynamics appear to favor the bulls.
Despite the recent decline, $FARTCOIN trading volume has surged by over 18% in the last 24 hours, with more than $2.29 billion in transactions recorded.
With the token hovering in oversold territory since mid-May, bearish momentum may soon start to exhaust itself.
$FARTCOIN Breaks Ascending Channel—Crash to $0.50 or Setup for $2 Rally?
The daily chart for $FARTCOIN/$USDT suggests a key moment for the token as it tests the lower boundary of an ascending channel within which it had been trading within since early April.
The price recently broke below this channel, indicating a potential trend reversal unless a swift recovery occurs.
Immediate support lies at $0.606, a level that previously acted as a springboard during the last major breakout. If the price fails to hold above this zone, further downside toward $0.50 or lower could follow.
Conversely, reclaiming the ascending channel and pushing above the $1.20 mark could open up a “free ride” to the $2 psychological resistance level, which aligns with the previous high.
The RSI is currently at 37.75, indicating a weakening bullish momentum and hovering above the oversold threshold. It has also shown repeated bearish divergences over recent peaks, suggesting a continuation of downward pressure in the short term unless bullish volume re-enters the market.
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