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Christmas Day appears to be beneficial for Cryptocurrencies, especially one meme Cryptocurrency that has recently attracted the attention of the broader market—Fartcoin (FARTCOIN). In the past 24 hours, FARTCOIN price has increased 60%, outperforming every other Meme Coin Coin in the top 100.
Thanks to that, the market capitalization of this digital currency has recovered and surpassed 1 billion USD once again. But what will happen next?
Fartcoin Sees Strong Growth Spirit, Strengthening Demand
Yesterday, Fartcoin price was at $0.74 after a recent correction. During the same period, TinTucBitcoin predicted, through various indicators, that this Meme Coin Coin could soon return to a capitalization of 1 billion USD.
Less than 24 hours later, FARTCOIN’s value increased to $1.20, and its market capitalization is now $1.20 billion. According to our findings, this big bounce could be related to the positive sentiment trend around the Token and increased demand.
December 22, Token General Sentiment Index fell into negative territory. This index measures market perception of a cryptocurrency; Positive values reflect optimistic comments, while negative values indicate bearish sentiment.
As indicated above, the sentiment index has moved back into positive territory, demonstrating that most comments on FARTCOIN are currently positive. If this trend continues, Token values could continue to climb higher and reach new record highs in the short term.
Additionally, the Chaikin Money Flow Index (CMF) showed awareness also exploded due to the positive sentiment surrounding Meme Coin Coin. CMF measures the flow of money into or out of a cryptocurrency, helping to determine accumulation (buying) and distribution (selling).
When CMF increases, it shows good buying pressure. Conversely, a decline in the index’s rating indicates selling pressure. Based on the daily chart, the CMF index has increased significantly, indicating a sustained increase in Fartcoin price in the short term.
FARTCOIN Price Prediction: Target of 2 USD Is Near
Meanwhile, a close look at the 4-hour timeframe shows that FARTCOIN encounters resistance at $1.25. The inability to overcome this barrier dragged the price down to $1.20.
However, Bull-Bear Power (BBP) shows that the correction may not last long. BBP indicates whether the strength of buyers (bulls) overcomes sellers (bears) or vice versa.
A positive reading favors the buying side, while a negative reading indicates strong selling pressure. Therefore, FARTCOIN price may continue to increase. If confirmed, Meme Coin Coin could surpass the candlestick’s high at $1.30 and potentially head towards $2.
Conversely, if selling pressure increases with bears in control, this may not happen. Instead, FARTCOIN could fall to $0.88, invalidating the Christmas rally in the process.
General Bitcoin News
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