Fartcoin Surges 20% Amid US Trade Deal Hopes

Fartcoin, a meme coin, has experienced a significant surge, jumping by 20% today to reach $1.32. This increase comes amidst a broader 4% rise in the cryptocurrency market over the past 24 hours. The gains have been fueled by expectations of reduced tariffs between the US and other major economies, following a trade deal between the UK and the US.

Fartcoin's recent performance includes a 10% increase over the past week and an impressive 144% rise over the past month. However, it remains down by 47% from its all-time high of $2.48, reached on January 19. Despite this, the token's momentum suggests potential for further rallies in the coming weeks, with a strong long-term price prediction.

Analyzing Fartcoin’s chart, its momentum has surged in recent hours, with the relative strength index (RSI) touching 70. This indicates that buying activity has intensified, but it may take a few days for the market to reach a point where buying is considered overheated. The 30-period average has been above the 200-period average for over a month, signaling an impending correction. However, the recent rise in the 30-period average suggests that any decline may be delayed by a day or two.

There are no signs of whales transferring Fartcoin to exchanges to sell, with recent large transfers involving purchases. A notable trader who made $4.9 million on Fartcoin recently bought 488,000 Fartcoin using 563,000 USDT, now holding a total of 2.12 million Fartcoin worth $2.48 million. This trader initially invested in Fartcoin when its market cap was $32 million, profiting significantly from buying low and selling high.

Despite the potential for a short-term correction, Fartcoin's medium- and long-term trajectory remains positive. Analysts expect the US to complete trade deals with other major economies in the coming weeks, further boosting market positivity. Fartcoin's decentralized nature, with no team members to rug traders, makes it a favored choice among whales and retail traders. This could push its price higher, potentially reaching $1.50 in weeks and $10 by the end of the year. If momentum continues alongside broader meme coin mania, even the $100 mark may be achievable.