Despite its humorous name, Fartcoin has proven itself as a meme coin to be taken seriously by traders and investors across the globe.

Having risen by 19% in the past day alone to hit $1.13, Fartcoin is well on its way to the next target of $2, having now become one of the top 10 meme coins by market cap.

Fartcoin Boosted by Bullish Sentiment

Just a couple of months ago, Fartcoin seemed like an unlikely success story – but since late October, investors have been wowed by profits of up to 7,900%:

As the chart above shows, there’s still plenty of power left in this token, and Fartcoin remains on track to hit or even exceed its key resistance level at $1.30.

On lower time frames, Fartcoin is also continuing to outperform. At the time of writing, it’s overcome a difficult dip and started pumping once again:

Fartcoin’s popularity largely seems to have stemmed from the attention given to it by mainstream financial and business news outlets. From Fortune to NBC, Fartcoin is practically inescapable – and investors have become increasingly emboldened as they pour more and more funds into the token.

You’ll see tradfi accounts tweet about Bitcoin from time to time, rarely ever any alts

But now we see tradfi accounts blasting out 3 tweets in a row about fartcoin

No other coin has had this effect pic.twitter.com/vDDTsqkJOZ

— HornHairs (@CryptoHornHairs) December 19, 2024

Although Fartcoin is a good example of how traders and investors can have fun with money they can afford to lose, it’s also a sign that market participants need greater insights into the crypto markets