Fartcoin (FARTCOIN) is currently gaining limelight because of its remarkable performance and whales’ interest. Today, crypto analyst Onchain Lens posted on X platform that a whale has sold 4 million Fartcoin for $3.5 million USDC at an average price of $0.876.
Whale earns $3.48 million Fartcoin profit
This whale appears to be an early investor how bought Fartcoin tokens during early times before others, when the asset started trading in October 19, 2024. During this time, this early investor bought 5 million Fartcoin tokens for $18,370 at an average price of $0.003674.
Today, he swapped his 4 million Fartcoin for $3.5 million USDC stablecoin, cashing out a profit of $3,481,630, thanks to a massive price increase. He still holds 1 million Fartcoin tokens worth $905,000, showing continued bullishness on the token.
The investor’s entry time was strategic, and the price rise has demonstrated to be profitable. While his decision to sell part of his holdings signals a possible shift in strategy, his trading activity showcases how important market timing is. He purchased huge amounts of tokens at early time when FARTCOIN was going for $0.003674.
Today he sold some of his holdings when prices rose to new highs. He still holds massive quantities of FARTCOIN tokens, meaning he is ready to make more gains as price increase. The recent price upturn indicates that more buyers are investing funds into the Fartcoin market, hoping for future price growth.
Fartcoin price updates
This strong selling activity has not negatively affected the price of Fartcoin. Today, at press time, the asset is trading at $0.9186, up 10.1% from yesterday. At the same time, the asset’s value has risen on weekly, biweekly, and monthly timeframes, up 24.7%, 138.8%, and 233.9%, respectively.
These green figures suggest that investors are increasingly showing interest in the asset, signifying a likelihood of a sustained market rally. Several market indicators show that buyers are prevailing in the market, suggesting ongoing token accumulation by investors. One significant instrument utilized to assess investor sentiment is the BBP (Bull Bear Power) indicator, which gauges whether sellers or buyers are in control. Currently the BBP indicator reads above the zero mark, precisely at 0.020, showing a strong buying pressure.
From a technical perspective, Fartcoin is currently trading in a cup and handle pattern in its daily chart. This pattern is normally considered as a robust bullish indicator, suggesting a continuation of a bullish momentum. This, therefore, suggests that the token is preparing to break the resistance levels of $1.1673 and $1.2837, an increase of 27%, in the forthcoming days.
