A whale “Ansem” bought $818K in Fartcoin tokens at an average price of $0.4142.
Another whale purchased a massive 5 million tokens at an average price of $0.4574.
“Ansem” sold its Fartcoin holdings over 10 days ago, scoring a profit of $4.1 million.
Meme cryptocurrencies earned the spotlight for another crypto bull market, with Fartcoin emerging as one of the top gainers. While the altcoin has crashed around 50% in the last seven days alone, Fartcoin was one of the few digital assets that remained green in the past 24 hours, soaring around 8% and claiming a daily high of $0.532. The meme token trades at $0.5302 at press time, CoinMarketCap .
Taking advantage of the Fartcoin dip in recent days, two whales decided to purchase a total of 6 million tokens, attracting the attention of the crypto market participants. As per a on X (formerly Twitter) by blockchain transaction tracker “ai_9684xtpa,” one of the whales, “Ansem,” added $818,000 worth of tokens at an average price of $0.4142.
It is important to note that this is not the first time that the Ansem wallet has bought the meme coin. About ten days ago, the wallet sold all the FARTCOIN token holdings at $0.93 and a $4.1 million profit that made several headlines.
The other trader “59aZn” a significant 5 million tokens at an average price of $0.4574 during withdrawal time. Also, another whale bought $44.05K worth of the meme coin, as per . Fartcoin is trading at a discount of around 80% from its of $2.61 seen just around 18 days ago. It is clear that whales consider the current dip as a buying opportunity, expecting potential returns in the near future.
Fartcoin Price Analysis
With a market cap of $526.27 million, FARTCOIN cryptocurrency stands as the 11th-largest meme coin with a 24-hour trading volume of $245 million. The price action of the altcoin is situated in the lower end of the Bollinger Bands on the 4-hour chart below but is attempting a breakout into the bullish area. If the meme token breaks above $0.80 with high volumes, higher prices can be expected.
Source: TradingView
On the other hand, as February began, the accumulation levels of the FARTCOIN token dropped significantly, clear from the chart above. However, the bulls have once again started buying the tokens in large numbers, as shown by the line’s gradient.
Source: TradingView
The Relative Strength Index (RSI) on the chart below reads a value of 42.26, which means that the sellers control the market. However, the gradient of the line suggests that bulls are pushing for higher prices. A reversal might be possible as the MACD indicator also confirmed a bullish divergence on the 4-hour chart below. The MACD histogram also turned green.