Fartcoin Eyes 200% Breakout as Shorts Get Wiped Out Fast

NAIROBI (CoinChapter.com)—FARTCOIN rallied over 20% in the past 24 hours, pushing past $0.87 as short sellers faced mounting liquidations. Fueled by rising open interest and heavy spot demand, the memecoin now targets a 200% breakout toward $2.72, backed by a confirmed symmetrical triangle breakout on daily charts.

The price surge came amid unusually strong perpetual futures activity. As of Apr. 11, Fartcoin’s open interest jumped 25.87% to $413 million, while 24-hour trading volume dropped 9.31% to $4.23 billion, suggesting traders continue to build positions despite reduced turnover.

Derivatives Show Massive Short Liquidations

Short positions across FARTCOIN pairs saw nearly $8 million wiped in the past 24 hours, with $5 million liquidated over a 12-hour span alone. Binance, Bybit, and Gate.io saw the largest short liquidations, according to Coinglass data. On Binance, FARTCOIN/USDT shorts lost $1.49 million, while longs gained just $787,000.

The long/short ratio climbed to 1.0576, signaling a flip in trader sentiment. Positions are now increasingly skewed long despite retail positioning still favoring shorts. Binance’s top trader long/short accounts ratio stood at 0.489, while positions reached 1.0339—reflecting a growing divergence between conviction and positioning.

Funding rates remained negative across exchanges, ranging from -0.0256% on Bybit to -0.0798% on Binance and MEXC, further suggesting shorts are paying to maintain their positions.

Volume and Open Interest Surge Despite Limited Listings

Fartcoin continues to generate high demand despite lacking listings on major spot platforms like Coinbase and Upbit. The token traded $1.27 billion in 24-hour volume on Binance alone, followed by $1.01 billion on Bybit and $467 million on MEXC.

Binance led in perpetual volume but posted a -6.42% decline over the last 24 hours. Meanwhile, Gate.io saw the sharpest drop at -51.71%, though its open interest jumped 2.76% to $9.21 million. MEXC posted a 24.94% rise in open interest despite a 17.8% volume dip.

The derivatives long/short ratios suggest cautious optimism. OKX and Bybit both reported ratios around 1.04, with longs slowly overtaking shorts. Still, the hourly breakdown shows shorts maintain control in micro timeframes, with the 5-minute and 30-minute long/short ratios at 0.71.

Fartcoin 200% Rally in Play After Technical Breakout

The recent breakout above $0.85 marked the end of a months-long consolidation within a symmetrical triangle. The pattern, visible since Dec. 2024, now targets a 207.72% move to $2.72 based on the measured move projection.

The daily RSI stood at 70.99, indicating overbought conditions. However, the 50/200-day exponential moving average cross remains bullish, with the 200-day EMA acting as support at $0.50.

TradingView 1-day price chart, highlighted the strength of the breakout setup, stating that price structure favors continuation as long as $0.73 holds as support.

FARTCOIN Social Buzz, Meme Power, and PEPE Comparisons Fuel Sentiment

Fartcoin has become a dominant force in crypto social media circles. Unipcs, widely followed on X, compared Fartcoin’s current trajectory to PEPE’s 2023 rally. “Fartcoin is trading more spot and perps volume than any other memecoin—even without major listings,” he wrote.

He also cited stronger “mindshare” than PEPE, DOGE, and TRUMP, adding, “Fintwit, TradFi, and even mainstream media talk about Fartcoin more than any other memecoin right now.”

Crypto_McKenna added to the absurdity narrative, tweeting, “The U.S. is heading into a recession and Fartcoin looks like it’s going to ATHs?”

Selby Degen claimed Fartcoin was “the biggest AI meme in history,” referencing its all-time high market cap of $2.5 billion and calling its current rally “hard to ignore.”

Fartcoin’s surge comes at a time when broader crypto markets face macro pressure from inflation fears and tariff drama. Despite lacking backing from major exchanges, the token has outperformed most of the market in recent days.

Fartcoin’s breakout above key resistance, massive short liquidations, and rising open interest point to further volatility ahead. The projected $2.72 upside could materialize if the current trend sustains and memecoin momentum persists.

Yet with RSI stretched and funding rates still negative, the road ahead may not be smooth. Traders appear locked in a tug-of-war between disbelief and blind conviction—typical of parabolic rallies with meme-fueled backing.

As the battle plays out across Binance, OKX, and Bybit, one thing remains clear—FARTCOIN’s rise is too loud to ignore.