Key Takeaways

Why is Fartcoin rising again?

Whales accumulated 33 million tokens and Spot Netflows turned negative, showing renewed confidence and reduced selling pressure.

Can this uptrend continue?

The Stochastic RSI’s bullish crossover and 64% long dominance suggest buyers may push toward EMA20 at $0.59.

After dropping to a low of $0.17, Fartcoin [FARTCOIN] rebounded sharply, defending the $0.4 support before rising to $0.45 and stabilizing near $0.43 at press time. It marked a 25.24% daily gain.

Its market cap climbed 28.39% to $470 million, signaling renewed inflows after a volatile week.

But what’s behind the memecoin’s recovery?

Fartcoin whales turn buyers again

On the 11th of October, after panic selling earlier in the crash, whales returned to accumulate as prices steadied.

Data from Nansen showed the top 100 addresses boosted their balances by 27.57%, adding about 33 million tokens.

Typically, when large holders turn to accumulation, it signals a shift in market sentiment, as they become optimistic again. Historically, increased buying pressure from this group has preceded higher prices. 

At the same time, exchange data confirmed the accumulation trend.

According to CoinGlass, Fartcoin’s Spot Netflow turned negative after being positive for two consecutive days.