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FARTCOIN’s explosive 180% weekly rally drove its price to $0.84 as its market capitalization nears $1 billion.
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Social dominance at 0.70% and $100 million volume indicate heightened interest, supporting further gains.
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FARTCOIN could hit $1, pushing the market cap higher, but intense profit-taking could cause a drop to $0.40.
Fartcoin (FARTCOIN) surges 180% to $0.84 amid rising social dominance and trading volume, placing it near a $1 billion market cap.
Fartcoin Gains Market Attention, Sets Eyes on Huge Milestone
On December 12, the Fartcoin market cap surpassed $500 million, and speculation spread that the meme coin was due for a significant correction. However, that did not happen, as demand for the cryptocurrency remained at an extremely high level, driving the price higher.
As of this writing, the market cap has surged to $839.95 million. Market cap is the product of price and circulating supply, indicating that the recent rally played a notable role in the hike.
Furthermore, on-chain data indicates that Fartcoin’s explosive rally may be far from over. One metric that supports this outlook is social dominance. Social dominance compares the level of discussion around a cryptocurrency to other assets.
When Fartcoin’s social dominance rises, it reflects a surge in online conversations about the token—often a bullish indicator. Conversely, a decline in dominance usually signals reduced discussion, which can dampen demand.
According to Santiment, FARTCOIN’s social dominance recently spiked to 0.70%, signifying widespread buzz about the Solana meme coin online. If this trend holds, it could amplify buying pressure and propel the meme coin’s market cap past the $1 billion mark.
In addition, Fartcoin’s trading volume offers another compelling sign of potential growth in both its price and market cap. Currently nearing the $100 million threshold, the volume suggests notable market activity.
With a 42% price surge in the past 24 hours, this heightened momentum could fuel a continued uptrend, pushing the token closer to new milestones.
FARTCOIN Price Prediction: $1 Looks Likely
On the daily FARTCOIN chart, COINOTAG observed a notable increase in the Bull Bear Power (BBP) indicator. The BBP compares the strength of bulls (buyers) to bears (sellers). When the reading is positive, it means bulls are in control, and the price can go higher.
On the other hand, a negative reading indicates that bears have the upper hand, and the price can drop. Considering the current outlook, the meme coin’s price is likely to rise to $1 in the short term.
If that happens, the Fartcoin market cap will hit $1 billion. However, traders need to be on the lookout. Should the meme coin face intense profit-taking, this could change. In that scenario, the value could decline to $0.40.
Conclusion
As FARTCOIN approaches significant milestones in pricing and market cap, continued trading activity and social engagement appear pivotal. Investors should closely monitor market dynamics to capitalize on the ongoing trends, with caution regarding the potential for profit-taking reactions.
