- A whale dumped WIF, and BONK to increase Fartcoin’s long position to $9.3 million.
- The coin pumped 52% on Christmas Eve and topped AI agent mindshare.
As a seasoned researcher with years of experience in the cryptocurrency market, I find myself constantly intrigued by the unpredictable and dynamic nature of this space. The recent events surrounding Fartcoin [FARTCOIN] have certainly caught my attention.
A whale has doubled down on Fartcoin [FARTCOIN], dumping his dogwifhat [WIF] and Bonk [BONK] for the AI memecoin.
Based on information from blockchain analytics firm LookOnChain, a significant entity has swapped approximately $1.03 million in WIF and $833K in BONK for Fartcoin. At the current moment, they possess around 7.55 million Fartcoins, which equate to a value of roughly $9.36 million.
This implicated that the whale was confident that AI-based meme coins, such as Fartcoin, might surpass traditional counterparts in the year 2025. However, one may wonder why Fartcoin over other AI tokens?
Fartcoin tops December mindshare
Instead of choosing strong performers based on popularity (mindshare) or high trading activity (volume), some traders and investors prefer to select assets that influence liquidity levels.
Starting from mid-December, Fartcoin has been leading in popularity among AI agents, accounting for about 22% of the market share according to Cookie.fun, a platform that collects data from these agents. AIXBT was the closest competitor with an 8% share, while Virtual [VIRTUAL] placed third at 5%.
Due to its widespread popularity, Fartcoin has shown impressive growth in value, surpassing even the well-known cryptocurrency Goatseus Maximus (GOAT). Interestingly, both Fartcoin and GOAT have seen increased interest thanks to the support of the AI agent Truth Terminal.
To date in December, the value of the coin has surged approximately 350%. Following the significant transaction by a large investor, also known as a “whale,” the AI meme coin experienced an increase of 52% on Christmas Eve. This could make it one of the rare exceptions that benefited from a “Santa rally.
In the past, prices have significantly recovered from their December declines, reaching nearly the upper limit around $1.4.
If the price is denied at the upper end of the range and subsequently falls to the middle or lower end, this could present an excellent chance to buy, especially if the asset remains popular or well-regarded.
To summarize, the analysis of derivative data indicates a positive market outlook. The trading activity has surged by approximately 120%, and the Open Interest (OI) has experienced a significant increase of around 45% within the last 24 hours.
Read Fartcoin [FARTCOIn] Price Prediction 2024-2025
Having been a trader for over a decade and navigating through countless market rallies, I can confidently say that the Christmas Eve rally was not just an isolated event but also fueled by significant speculative trading in the Futures market. My own experiences have taught me that such surges are often driven by large-scale speculation, as traders aim to capitalize on short-term opportunities and make substantial profits. It is crucial for investors to stay vigilant and carefully analyze market trends to avoid being swayed by these speculative waves.
Currently, the overall feeling among traders is optimistic, as indicated by a large number of buy positions relative to sell positions, based on the Long/Short ratio.
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2024-12-25 22:15