Coinbase Lists Fartcoin Amid 40% Weekly Gain

Coinbase Global Inc. has announced its plans to list Fartcoin (FARTCOIN), a rapidly growing memecoin based on the Solana blockchain. The cryptocurrency exchange stated that trading for FARTCOIN will begin on Thursday, June 12, at 9 AM PT, provided that the necessary liquidity conditions are met. The exchange also noted that the trading of FARTCOIN against the U.S. dollar will be implemented in phases once the liquidity conditions are satisfied.

According to on-chain data analysis, the demand for FARTCOIN has been consistently high in recent weeks. Market data from Nansen indicates that a whale withdrew 14,916 Solana coins from an exchange and used them to purchase 1.68 million FARTCOIN, valued at approximately $1.4 million. This significant investment suggests a growing interest from large investors in FARTCOIN.

The upcoming listing of FARTCOIN on Coinbase is expected to further boost demand, particularly as the anticipated 2025 altseason approaches. Additionally, the recent regulatory clarity in the United States has contributed to an increase in overall altcoin demand. Despite the bullish momentum, FARTCOIN has faced resistance around the $1.5 mark. However, the memecoin, with a fully diluted valuation of about $1.35 billion and a 24-hour average trading volume of around $376 million, has seen a 40 percent increase in the last seven days.

From a technical analysis perspective, crypto analyst RookieXBT believes that FARTCOIN is poised for a significant upsurge. A consistent close above $2.7 in the weekly timeframe could trigger a rally toward its all-time high in the coming weeks. This optimistic outlook is supported by the recent bullish momentum and the anticipated listing on Coinbase, which could attract more investors and drive the price higher.