Coinbase Global Inc. (NASDAQ: COIN) announced plans to list Fartcoin (FARTCOIN), a fast-growing Solana (SOL)-based memecoin. The cryptocurrency exchange announced that trading of FARTCOIN will commence on Thursday, June 12, 9AM PT, if the set liquidity conditions are met.
Coinbase highlighted that the trading of FARTCOIN against the U.S. dollar will be rolled out in phases once the set liquidity conditions are met.
Fartcoin Records Higher Demand From Whale Investors
According to on-chain data analysis, the overall demand for FARTCOIN has remained elevated in the past few weeks. According to market data from Nansen, a whale withdrew 14,916 Solana coins from the Binance exchange and purchased 1.68 million FARTCOIN at a market value of about $1.4.
The imminent listing of FARTCOIN on Coinbase will further trigger heightened demand from whale investors, especially amid the anticipated 2025 altseason. Furthermore, the notable crypto regulatory clarity in the United States has helped increase the overall altcoin demand in the recent past.
What Next?
After an impressive rally in the past few weeks, fueled by Coinbase listing speculations, FARTCOIN price has experienced a significant resistance of around $1.5. However, the mid-cap memecoin, with a fully diluted valuation of about $1.35 billion and a 24-hour average trading volume of around $376 million, has gained around 40 percent in the last seven days.
From a technical analysis standpoint, crypto analyst RookieXBT thinks FARTCOIN is on the cusp of a major upsurge. Furthermore, a consistent close above $2.7 in the weekly timeframe will trigger a rally toward its all-time high in the subsequent weeks.
