FARTCOIN Rallies 20% Targeting 200% Breakout as Short Sellers Face Mounting Liquidations

FARTCOIN rallied over 20% in the past 24 hours, pushing past $0.87 as short sellers faced mounting liquidations. Fueled by rising open interest and heavy spot demand, the memecoin now targets a 200% breakout toward $2.72

NAIROBI (CoinChapter.com)—FARTCOIN (CRYPTO: FART) rallied over 20% in the past 24 hours, pushing past $0.87 as short sellers faced mounting liquidations.

The memecoin now targets a 200% breakout toward $2.72, backed by a confirmed symmetrical triangle breakout on daily charts. The move is fueled by rising open interest and heavy spot demand.

The price surge came amid unusually strong perpetual futures activity. As of Apr. 11, Fartcoin’s open interest jumped 25.87% to $413 million, while 24-hour trading volume dropped 9.31% to $4.23 billion. This suggests traders are continuing to build positions despite reduced turnover.

Short positions across FARTCOIN pairs saw nearly $8 million wiped in the past 24 hours, with $5 million liquidated over a 12-hour span alone. Binance (NASDAQ:BNB), Bybit, and Gate.io saw the largest short liquidations, according to Coinglass data.

On Binance, FARTCOIN/USDT shorts lost $1.49 million, while longs gained just $787,000. The long/short ratio climbed to 1.0576, signaling a flip in trader sentiment.

Positions are now increasingly skewed long despite retail positioning still favoring shorts. Binance’s top trader long/short accounts ratio stood at 0.489, while positions reached 1.0339—highlighting a growing divergence between conviction and positioning.

Funding rates remained negative across exchanges, ranging from -0.0256% on Bybit to -0.0798% on Binance and MEXC. This suggests shorts are paying to maintain their positions.

Volume And Open Interest Surge Despite Limited Listings

Fartcoin continues to generate high demand despite lacking listings on major spot platforms like Coinbase (NASDAQ:COIN) and Upbit. The token traded $1.27 billion in 24-hour volume on Binance alone, followed by $1.01 billion on Bybit and $467 million on MEXC.

Binance also led in perpetual volume but saw a -6.42% decrease over the last 24 hours. Meanwhile, Gate.io posted the sharpest drop at -51.71%, though its open interest went up 2.76% to $9.21 million.

MEXC saw a 24.94% rise in open interest despite a 17.8% decrease in volume. The derivatives long/short ratios suggest cautious optimism. OKX and Bybit both reported ratios around 1.04, with longs slowly overtaking shorts.

However, the hourly breakdown shows shorts still have control in micro timeframes, with the 5-minute and 30-minute long/short ratios at 0.71.

Fartcoin 200% Rally In Play After Technical Breakout

The recent breakout above $0.85 marks the endpoint of a months-long consolidation phase within a symmetrical triangle.

The pattern, identified since December 2024, now indicates a potential 207.72% move toward $2.72 based on the measured move projection from the breakout point.

The daily RSI is at 70.99, signaling overbought conditions. But the 50/200-day exponential moving average cross remains bullish, with the 200-day EMA acting as support at $0.50.

TradingView 1-day price chart, highlighted the strength of the breakout setup, stating that price structure favors continuation as long as $0.73 holds as support.

FARTCOIN Social Buzz, Meme Power, And PEPE Comparisons Fuel Sentiment

Fartcoin has become a dominant force in crypto social media circles.

Unipcs, widely followed on X, compared Fartcoin’s current trajectory to PEPE’s 2023 rally.

“Fartcoin is getting more volume on spot and perps than any other memecoin—even without major exchange listings. It also has stronger mindshare than PEPE, DOGE, and TRUMP. Fintwit, TradFi, and even mainstream media talk about Fartcoin more than any other memecoin.”

Crypto_McKenna chimed in with an absurdist take, adding, “The U.S. is heading into a recession and Fartcoin looks like it’s going to ATHs?”

Selby Degen claimed Fartcoin was “the biggest AI meme in history,” referencing its all-time high market cap of $2.5 billion and calling its current rally “impossible to ignore.”

Fartcoin’s surge comes as broader crypto markets face macro pressure from inflation fears and tariff drama.