FARTCOIN Whale Dumps Nearly $5M of the Surging Meme Coin After Massive Gains

A high-profile FARTCOIN investor brought in a sudden price swing Wednesday, selling nearly $5 million worth of the surging meme coin

A high-profile FARTCOIN investor brought in a sudden price swing Wednesday, selling nearly $5 million worth of the surging meme coin after massive gains.

Arkham data shows this investor, who began accumulating $2.4M in FARTCOIN at $0.20-$0.30 over two months ago, had a position valued at $10.4M today.

Seizing the opportunity from the massive price increase, the whale liquidated $4.7M FARTCOIN at an average price of $1.18. Despite selling millions, they still hold a $5.57M FARTCOIN position and converted $5.14M profit into USDC stablecoins.

This strategic exit sparks market speculation as FARTCOIN price consolidates near the $1.10 level after a volatile swing.

Currently trading at $1.11, FARTCOIN is up 2.54% in the last 24 hours. The price chart shows an initial dip, followed by a steep rally, and now a consolidation phase. This sideways movement includes significant volatility, suggesting indecision among traders.

Crucially, support has emerged at $1.08, the day’s lowest price. This level has acted as a rebound point during intraday dips. Another crucial support level lies at $1.10, which has been tested several times and reflects both psychological and technical strength.

On the resistance front, $1.17 stands out as the immediate ceiling. It marks the day’s high and has triggered selling pressure multiple times. Just below it, $1.15 has also proved to be a stubborn level, rejecting price advances during the ongoing consolidation.

Despite the selling activity, technical indicators remain largely bullish. The RSI has climbed to 64.56, suggesting that buyers are still dominant, though it nears overheated levels.

Moreover, the MACD continues to favor bulls. The MACD line remains above the signal line, and the widening histogram adds weight to the upward trend. A recent bullish crossover remains intact, reinforcing a positive short-term outlook.

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