FARTCOIN Whales Exiting As Solana Memecoin Soars 300% in 30 Days

YEREVAN (CoinChapter.com) — Solana memecoin Fartcoin (FARTCOIN) has surged nearly 300% in the past month following a confirmed breakout from a bullish chart setup, prompting major holders to start exiting positions.

FARTCOIN Cup and Handle Pattern Points to $2.65 Target

FARTCOIN (FARTCOIN/USDT) confirmed a  cup and handle pattern after breaking above key resistance at $0.70 in early April. The setup, common in bullish market phases, typically signals a continuation of an existing uptrend once the breakout occurs.

The pattern began forming in February as the price declined to a low of $0.12. From there, FARTCOIN steadily recovered, creating a curved base and returning to the $0.70 level by late March. A brief pullback in early April formed the handle just below resistance. On April 6, the price broke above $0.70 on rising volume, confirming the structure.

The pattern’s depth helps define the next potential target. In this case, the distance from $0.70 to $0.12 gives a projected move of $0.58. Adding that to the breakout level points to a standard target near $1.28.

However, the chart also suggests a wider recovery. FARTCOIN previously dropped from a high of $2.07 down to the $0.12 low. If the full range of that move is reclaimed, the extended upside target reaches $2.65.

Technical signals remain supportive. The Relative Strength Index (RSI) is currently at 66.86, indicating strong momentum while staying just below the overbought threshold of 70. Trading volume also rose during the breakout, confirming active buyer interest. As long as the price holds above $0.70, the bullish structure remains in place.

Top Wallets Secure Over $8.9M in Profits

As FARTCOIN rallied, large holders began locking in major gains. In an Apr. 14 X post, Nansen reported that the top five wallets collectively realized over $8.9 million. Specifically, one address fully exited with $1.88 million in profit, while another still holds $4.15 million in unrealized gains.

Meanwhile, data from Coinglass shows that FARTCOIN’s long-to-short ratio stands at 1.0084, suggesting a slightly bullish tilt in trader positioning. Over the past 24 hours, short-position liquidations totaled $2.68 million—higher than the $1.98 million in long liquidations. This trend may indicate that sellers are backing off, expecting the uptrend to continue.

However, on-chain activity reveals potential caution. According to Lookonchain, one whale sold 6.25 million FARTCOIN—worth around $5.53 million—using a dollar-cost averaging (DCA) strategy, which involves spreading out sales over time to reduce market impact and avoid sharp price drops.

As a result, this large-scale exit could signal growing interest in profit-taking after the sharp rally.