- FARTCOIN shot up 45% in the past 24 hours, reclaiming the 20-day EMA.
- Nansen said that smart money has bet on FARTCOIN in the past 24 hours.
- TAO, RENDER, and FET also soared amid the popularity of AI cryptocurrencies.
Fartcoin (FARTCOIN), a meme token based on the Solana blockchain, has soared 45% in the past 24 hours as the trading volume of the digital asset doubled in the past 24 hours, suggesting increased buying activity.
At press time, FARTCOIN trades at $0.7260, down more than 70% from its all-time high seen three months ago, according to CoinMarketCap data. The price surge was a result of smart money putting their resources in the meme token.
As per the data from Nansen, Fartcoin (FARTCOIN) was the top investment for smart money in the past 24 hours, followed by AGAWA, JOCKEY, XI JINGPOOH, and CRYPTOAI.
Why is FARTCOIN Pumping? The ‘Smart Money’ Connection
Additionally, the chart below confirms that FARTCOIN has reclaimed the 20-day Exponential Moving Average (EMA) at $0.513 as support level while the Relative Strength Index (RSI) reads 64.57, confirming that the bulls are overall dominating.
Other Tokens to Watch Out for
Flare (FLR) soared 31.66% and has been named as the sleeping giant of Layer 1 tokens. The protocol features cross-chain interoperability and is focused on solving real-world issues.
PENDLE: The yield-trading protocol gained more than 20%. It held its price above a key trend line acting as support and also reclaimed its 20-day EMA near $2.885.
Ondo Finance (ONDO): Rallying almost 20%, ONDO appears to benefit from surging interest in Real World Asset (RWA) tokens. The total value of tokenized RWAs on-chain hit $20.16 billion, up 11% over the last month, per rwa.xyz.
Sonic (S): Turned bullish as the total value locked (TVL) of the blockchain network soared past the $1 billion milestone for the first time, data from DefiLlama shows. The cryptocurrency trades at $0.47, eyeing a retest of the 50-day EMA at $0.5196.
AI Tokens (TAO, RNDR, FET): Three leading AI-focused cryptocurrencies – Bittensor (TAO, +~18%), Render (RNDR, +14%), and Fetch.ai (FET, +>12%) – saw renewed buying interest.
Both the RWA and AI sectors continue to attract capital, reportedly from crypto-native and traditional venture firms alike.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
