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The Fartcoin price plummeted over 23% in the last 24 hours to trade at $0.2484 as of 10:27 p.m. EST as investors decrease their exposure to the meme coin.
This drop in the FARTCOIN price comes as the market cap for the meme coin sector plunged more than 16% in the last 24 hours, according to data from CoinMarketCap.
Fartcoin Price Resting On A Key Support Level
4-hour chart for FARTCOIN/USD (Source: GeckoTerminal)
The Fartcoin price is resting on a key support level at $0.2381, data from GeckoTerminal shows. Over the past few days, the meme coin has rebounded with every test of this technical safety net. However, if history is not repeated with this instance, the crypto could fall to the subsequent mark at $0.1589.
On the other hand, a more bullish scenario could see the Fartcoin price rise to the $0.3449 resistance and try to flip the barrier into support. Continued pressure from buyers should the crypto overcome this resistance level could then lead to a climb to as high as $0.4311.
Sellers Might Try To Push The Fartcoin Price Down Even Lower
From a technical perspective, indicators on FARTCOIN’s 4-hour chart suggest the meme coin might not rebound with this test of the $0.2381 support. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn that sellers might push the Fartcoin price down even lower in the next few hours.
RSI readings have plunged from the high 60s to below 40, signaling a rapid decrease in buyer strength. With the negative slope of the RSI line, it seems bears are still accumulating strength against their bullish counterparts. Additionally, the current reading in the high 30s suggests that there is still room for the Fartcoin price to drop before it enters oversold territory below 30.
A major bearish technical flag was also triggered by the MACD in the last couple of hours. During this period, the MACD line crossed below the MACD Signal line. This technical event is often interpreted as an indication that an asset has entered a negative trend.
Meanwhile, the growing gap between the two lines with their current alignment warns FARTCOIN’s bearish momentum is picking up steam.
As sellers look to push the Fartcoin price down even lower, investors are piling into a new crypto index project called Meme Index (MEMEX) for safer meme coin investing. Prominent YouTube channel 99Bitcoins, which has over 725K subscribers, says MEMEX has the potential to be the next 100X crypto in the market.
Simplifying Meme Coin Investing By Giving Investors Diversified Exposure
An investor frenzy has erupted around meme coins in recent months, with many of these tokens printing life-changing gains for multiple buyers. However, this popularity has led to an influx of new tokens from developers looking to profit from the hype.
Now, with the meme coin market oversaturated, finding the next crypto gem that could explode has become near impossible. To make matters worse, there is also an uptick in the number of meme coin rug-pulls, as scammers try to drain funds from unsuspecting meme coin investors.
To address these issues, Meme Index introduces 4 investment baskets, or indexes, that each feature different meme coins grouped by their perceived level of investment risk.
These baskets are Meme Titan, Moonshot, Midcap, and Meme Frenzy, with the relatively safer option being the Meme Titan index that focuses on established meme coins.
Investors willing to take on high levels of risk for potential high rewards could turn to the Meme Frenzy index, which features new, emerging, and highly-volatile cryptos.
While the recent market dip has delayed the anticipated 2025 meme coin supercycle slightly, investors now have the opportunity to rebalance their portfolios. MEMEX, with the diversified meme coin exposure it offers and its decentralized investment baskets, could be a top pick for investors who want to maximize their gains in the next meme coin rally.
Investors Bet Big On MEMEX’s Future
Investors have poured more than $3.9 million into Meme Index’s ongoing presale so far, signaling a lot of confidence in the project’s future.
Besides the bullish predictions by experts like 99Bitcoins and all of the project’s benefits, there is also a 581% APY on offer to presale buyers that might be pulling investors in at this early stage.
Interested investors can buy MEMEX, which is selling for $0.016683, through the widget embedded on the project’s website using either ETH, USDT, BNB or bank card. After purchasing MEMEX, investors can then lock up their tokens via the staking page to start earning the high passive crypto rewards.
Investors will want to act fast, because the project’s presale ends in 27 days.
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