The Fartcoin price plunged nearly 13% in a single day on May 7, 2025, shaking investor confidence once again. Known for its wild price swings, this coin’s latest drop has traders wondering if a deeper correction is coming or if a rebound is just around the corner.
Fartcoin’s price decreased by 13% in the past 24 hours to approximately $0.96. Despite the dramatic decrease, it is still the 69th largest cryptocurrency by market cap, at $962 million. Trading volume spiked 78% to $228 million, reflecting strong market sentiment during the sell-off and continuing trader demand despite bearish pressure.
Fartcoin Technical Indicators and Whale Activity
Technically, Fartcoin price sits just below resistance at $1.15. The MACD (Moving Average Convergence Divergence) is now bearish, but RSI (Relative Strength Index) remains steady at 56, indicating neutral momentum. The price remains above moving averages, which means support. Overall, the technical indicators point to a neutral sentiment.
In the last few days, there has been significant whale activity, which could likely influence the direction of Fartcoin’s price. On May 2, one whale made profits worth more than $7.5 million trading Fartcoin. The whale then shifted focus, purchasing 23.37 million AVA tokens valued at $1.71 million, moving away from Fartcoin.
However, fresh whale interest was seen again on May 7, with one whale purchasing $100.69K worth of Fartcoin. While smaller than the recent sell-offs, this is indicative of fresh confidence in the coin. This mix of profit-taking and new buying indicates continuing volatility and active large-volume trading in Fartcoin’s market.
Investor Predictions and Sentiment
Many Fartcoin traders remain optimistic, even in light of recent downtime. Nick O’Neill on X refers to it as “basically the only token other than Bitcoin and Solana that matters” because of its unique market position. He further asserts that the coin “doesn’t go down,” exhibiting utmost confidence.
Fartcoin is now hovering at a critical level around $1, which traders eagerly expect to retain. A fall below it considers the next critical level, the $0.85 zone. This zone is also the 0.382 Fibonacci level, which traders may see as a reentry point.
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