Onchain sleuth, Lookonchain, posted on X that a Whale 24BLFj transferred “another 3M $Fartcoin($3.65M) at $1.22, 9 hours ago.” From Feb 26 to Mar 21, the whale bought 8.89M $Fartcoin(cost $2.31M) at an average price of $0.26. With the whale still in position of 1.89M $Fartcoin($2.16M), he has an aggregate profit of $8.07M(+349%).
Replying to the thread, a crypto netizen commended the whale and stated, “From $0.26 to $1.22 — A Masterclass in Meme Rotation.” Meme rotation is a term that is used to describe a pattern where traders move money from one trending meme coin to another in search of quick profits. When one meme coin pumps and starts losing momentum, traders “rotate” into the next meme coin that seems ready to run.
In particular, the whale accumulated during market boredom and sold the hype while holding back 1.89M $Fartcoin bags, which could be sold off with a profit of 350%.
Meanwhile, FARTCOIN has been falling straight for the last seven days. Although with every fall the token tried to regain momentum by making a higher high, however, the bear pressure was too high. Succumbing to bears, the market crashed from an opening market price of $1.63 to $1.1.
On the 3-hour chart, FARTCOIN is hovering close to the lower trendline as it fluctuates inside a falling wedge. When the token hits the lower trendline, its natural movement will be towards the upper trendline. With the Bollinger bands indicating that the market is oversold, the token will be forced to move in the opposite direction, that is, towards the upper trendline.
As such, the next lower high that FARTCOIN hits would be at $1.3, which will be followed by another fall, to make a lower low. This zig-zag movement inside the wedge, as shown in the chart, will keep on recurring until the wedge is fully formed. Once fully formed, the token will break out and reach $1.55. With the Bull Bear Power indicator signaling the weakening bear’s power, FARTCOIN could be set for a big move.
